The diagram illustrates the effect on the market for rice of a change in government policy that shifts the supply curve from S to S1. What does the area JKLM represent?
- Athe additional saving to importers of the removal of a tariff on rice
- Bthe cost to the government of a subsidy to rice growers
- 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