Questions: The graph at right shows the situation after the U.S. removes a tariff on imports of canned tuna. Which areas show the gain in consumer surplus? A. A. B. A+B+C+D. C. B+C+D. D. C. Which area shows the loss in producer surplus? A. B+C+D. B. A. C. A+B+C+D. D. A+B.

The graph at right shows the situation after the U.S. removes a tariff on imports of canned tuna. Which areas show the gain in consumer surplus? A. A. B. A+B+C+D. C. B+C+D. D. C. Which area shows the loss in producer surplus? A. B+C+D. B. A. C. A+B+C+D. D. A+B.
Transcript text: 3 - RVI - Fall 2024 John Baker pter 9 - Quiz Question 19 of 25 This quiz: 25 point(s) possible This question: 1 point(s) possible Submit quiz The graph at right shows the situation after the U.S. removes a tariff on imports of canned tuna. Which areas show the gain in consumer surplus? A. A. B. $A+B+C+D$. $\qquad$ C. $B+C+D$. D. C. Which area shows the loss in producer surplus? A. $B+C+D$. B. A. C. $A+B+C+D$. D. $A+B$. Time Remaining: 00:18:24 Next
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Solution

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Solution Steps

Step 1: Identify the Gain in Consumer Surplus
  • The gain in consumer surplus occurs when the price decreases from P1 to P0. This is represented by the areas that were previously not part of the consumer surplus but are now included due to the price drop.

Final Answer

  • The areas that show the gain in consumer surplus are A + B + C + D.
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