Figure 9-1 Figure 9-1 Shows the U.S. Demand and Supply for Leather

question 83

Multiple Choice

Figure 9-1

Figure 9-1 shows the U.S. demand and supply for leather footwear.
-Refer to Figure 9-1.Under autarky,the equilibrium price is ________,the consumer surplus is ________ and the producer surplus is ________.

• A) $30; consumer surplus = area R; producer surplus = area S + V
• B) $30; consumer surplus = area R + S + V; producer surplus = area T + W+ X
• C) $24; consumer surplus = area R + S; producer surplus = area V
• D) $30; consumer surplus = area R; producer surplus = area S + T + V + W + X

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