If the Price of Torches in Estonia Is $100 and the World

question 90

Multiple Choice

If the price of torches in Estonia is $100 and the world price is $150, how would producer surplus change if Estonia opened to world trade?

• A)it would rise by $50
• B)it would rise by more than consumer surplus would fall
• C)it wouldn't change but consumer surplus would rise
• D)it would change by the same amount as consumer surplus

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Definitions:

Deep Ecology

An environmental philosophy and social movement emphasizing the inherent worth of all living beings regardless of their instrumental utility to human needs.

Interdependence

The mutual reliance between different species, systems, or processes in an ecosystem, illustrating how a change in one can affect others.

Fundamental Ecosystems

Basic ecological units comprised of living organisms and their physical environment, interacting as a system.

Planetary Management

Planetary management is a worldview that regards the Earth as a system to be managed for the benefit of humans, focusing on the manipulation of natural systems to meet human needs.