Consider Figure 7.1. In the absence of trade, Mexico’s producer surplus and consumer surplus respectively equal:
A. $120, $240
B. $180, $180
C. $180, $320
D. $240, $240
Answer:B
Consider Figure 7.1. In the absence of trade, Mexico’s producer surplus and consumer surplus respectively equal:
A. $120, $240 B. $180, $180 C. $180, $320 D. $240, $240