(Figure: the Import-Competing Industry) Suppose That, with Free Trade, the World

question 66

Multiple Choice

(Figure: The Import-Competing Industry) Suppose that, with free trade, the world price of the product is $15. What is the value of consumer surplus?

• A) $1,395.
• B) $697.50.
• C) $22.50.
• D) $2,250.

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Definitions:

Ethnically Diverse

Consisting of people from a variety of racial and cultural backgrounds.

School Segregation

The practice of separating students in schools based on race, class, or ethnic background, often leading to inequities in education.

Minority Groups

Social groups that are differentiated from the majority by cultural, ethnic, racial, religious, or linguistic characteristics, often experiencing discrimination or marginalization.

Cultural Mediator

An individual who facilitates understanding and communication between people or groups from different cultural backgrounds, helping to bridge cultural gaps.