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Refer to Figure 34-1. The U.S. demand and supply for a good are shown. Under a policy of free trade, where imports are permitted, the
Refer to Figure 34-1. The U.S. demand and supply for a good are shown. Under a policy of free trade, where imports are permitted, the world price is PW. If there is a policy change such that imports are prohibited, the price becomes PN, consumers' surplus equals __________ and producers' surplus equals __________. a. PNAD; PWBDE b. PNAD; BCD c. BCD; PNDE d. PNAB; PNBE
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