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

[Mr3Hunna]

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

[tdewitt]

Answer to Question 1

E

Answer to Question 2

D

[Mr3Hunna]

YES! Correct, THANKS for helping me on my review

[milbourne11]

Thanks for the timely response, appreciate it