shows the market for rice in U.S. Quantity is given in millions of pounds. Answe

Question

shows the market for rice in U.S. Quantity is given in millions of pounds. Answer questions 22-30 according to Figure 2. Under autarky, the consumer surplus is S million and the producer surplus is $ million. CS=$16, PS=$32 CS=$8,PS=$16 CS=S16, PS=$16 CS=$8, PS=$32 Under autarky, the deadweight loss is million $0. S1.5. $3. $4. Suppose the government allows imports of rice into the United States. If the world price is $2 per pound, the quantity demanded and quantity supplied by Americans are and million pounds, respectively. 5; 14 4; 16 16; 4 14; 5

Explanation / Answer

B. 16,16 A. 0 C.16,4

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