The diagram illustrates how the rice market is affected when a change in government policy shifts the supply curve from S to S1. What is represented by the area JKLM?
- Athe cost to the government of a subsidy to rice growers
- Bthe extra saving to importers of the removal of a tariff on rice
- Cthe increase in consumer surplus from the introduction of a maximum price for rice
- Dthe loss in government revenue from the reduction in a lump sum tax on rice