(Figure: Market for Pants) Suppose that the world price of a pair of pants is $40. According to the figure, the total domestic surplus in the free-trade equilibrium _____ the total domestic surplus in the no-international trade equilibrium by _____.
A) exceeds; $100,000
B) falls short of; $200,000
C) falls short of; $100,000
D) exceeds; $200,000
Correct Answer:
Verified
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