ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
TE
14
21
91
12
21
15
51
Question 13 (4 points)
The graph below represents the market for a good in a country that is open to
international trade. P represents the global equilibrium price (the world price) of the
good.
P
17
18
500
20 21
11
212
A
300
B
250
3
24
G
ation
50
50
K
80
93
LH
D
E
F
1
S
Pw
DW
30
90
100
Q
What area(s) represent producer surplus if trade is allowed?
GK
OGHK
ABGK
Ου
BCDEGHK
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Transcribed Image Text:TE 14 21 91 12 21 15 51 Question 13 (4 points) The graph below represents the market for a good in a country that is open to international trade. P represents the global equilibrium price (the world price) of the good. P 17 18 500 20 21 11 212 A 300 B 250 3 24 G ation 50 50 K 80 93 LH D E F 1 S Pw DW 30 90 100 Q What area(s) represent producer surplus if trade is allowed? GK OGHK ABGK Ου BCDEGHK
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