Figure 9-21 The Following Diagram Shows the Domestic Demand and Domestic Supply

question 4

Multiple Choice

Figure 9-21
The following diagram shows the domestic demand and domestic supply for a market.In addition,assume that the world price in this market is $40 per unit.
-Refer to Figure 9-21.Consumer surplus with free trade is

• A)$4,000.
• B)$8,000.
• C)$16,000.
• D)$18,000.

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Definitions:

Expectations

Beliefs or anticipations about the future, often based on experience, knowledge, or perceived trends.

Illicit Drug

A substance whose production, sale, or use is prohibited by law, often associated with addiction and illegal trade.

Endorphins

Natural chemicals in the body that fight pain and promote feelings of pleasure and well-being.

Marijuana

A psychoactive drug from the Cannabis plant used primarily for medical or recreational purposes.