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Figure 9-1 The Figure Illustrates the Market for Wool in New Zealand

Question 99

Multiple Choice

Figure 9-1
The figure illustrates the market for wool in New Zealand. Figure 9-1 The figure illustrates the market for wool in New Zealand. -Refer to Figure 9-1.Relative to the no-trade situation,trade with the rest of the world results in A) New Zealand consumers paying a higher price for wool. B) a decrease in producer surplus in New Zealand. C) a decrease in total surplus in New Zealand. D) All of the above are correct.
-Refer to Figure 9-1.Relative to the no-trade situation,trade with the rest of the world results in


A) New Zealand consumers paying a higher price for wool.
B) a decrease in producer surplus in New Zealand.
C) a decrease in total surplus in New Zealand.
D) All of the above are correct.

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