Graph 9-1 This Graph Refers to the Market for Beef in Japan

question 76

Multiple Choice

Graph 9-1
This graph refers to the market for beef in Japan.

-According to Graph 9-1, if trade in beef is allowed, Japanese:

• A) consumer surplus will increase and producer surplus will decrease
• B) consumer surplus will decrease and producer surplus will increase
• C) producer surplus and consumer surplus will increase
• D) producer surplus and consumer surplus will be unaffected