Multiple Choice
Suppose that the equations S = 2P and D = 6 - P represent a small
Country's home supply and home demand curves.If the world price is $1,
Which of the following is the increase in the country's surplus when it
Trades compared with autarky?
A) $6.00
B) $4.50
C) $2.50
D) $0.50
Correct Answer:
Verified
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Suppose that Norway is
Suppose that the freetrade price