The above figure shows the domestic market for tomatoes. Suppose this market is isolated from global competition and there is a support price set at $16. In this figure, what area equals the consumer surplus?

In perfect competition, what is the relationship between the demand for the firm's output and the market demand?

What will be an ideal response?

Which of the following is most likely to be an untraded good in a Ricardian two-country, multi-good model?

A) steel B) textiles C) haircuts D) petroleum E) telemarketer services