Chile Allows Trade with the Rest of the World

question 148

Multiple Choice

Chile allows trade with the rest of the world.We know that Chile has a comparative advantage in producing lemons if we know that

• A) Chile imports lemons.
• B) the world price of lemons is higher than the price of lemons that would prevail in Chile if trade with other countries were not allowed.
• C) consumer surplus in Chile would exceed producer surplus in Chile if trade with other countries were not allowed.
• D) All of the above are correct.

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Definitions:

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, responsible for focusing most of the light that enters the eye.

Protects

Protects refers to the act of keeping someone or something safe from harm, damage, or injury through preventive measures or actions.

Lens

A piece of transparent material, usually glass or plastic, that refracts or focuses light rays, used in glasses, cameras, and various optical devices.

Wavelength

Wavelength refers to the distance between successive crests of a wave, especially in physics, where it determines the properties of waves of light and sound.