Author Question: Refer to Figure 9.9. At free trade, domestic consumer surplus would be A) 20,000. B) 27,500. ... (Read 34 times)

Mr3Hunna · **on:** Jul 1, 2018

Refer to Figure 9.9. At free trade, domestic consumer surplus would be

A) 20,000.
B) 27,500.
C) 40,000,000.
D) 45,000,000.
E) 75,625,000.

Question 2

Which of following is a key assumption of a perfectly competitive market?

A) Firms can influence market price.
B) Commodities have few sellers.
C) It is difficult for new sellers to enter the market.
D) Each seller has a very small share of the market.
E) none of the above