Suppose New Zealand Goes from Being an Isolated Country to Being

question 144

Multiple Choice

Suppose New Zealand goes from being an isolated country to being an exporter of wool.As a result,

• A) consumer surplus increases for consumers of wool in New Zealand.
• B) producer surplus increases for producers of wool in New Zealand.
• C) total surplus remains unchanged in the wool market in New Zealand.
• D) it is reasonable to infer that other countries have a comparative advantage over New Zealand in wool production.

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