(Figure: The Market for Roses) Use Figure: The Market for Roses.Assume that P_A is the autarky price and P_W is the world price.Consumer surplus with international trade would be area:

A) W + X + Y.
B) Z.
C) W + X + Z.
D) W.

Consumer Surplus

A term often used to refer both to individual consumer surplus and to total consumer surplus.

International Trade

International trade involves the exchange of goods and services between countries, driven by comparative advantages that allow countries to produce goods more efficiently.

Autarky Price

The price of a good in a closed economy that does not engage in international trade, determined solely by domestic supply and demand.