Suppose Scotland Goes from Being an Isolated Country to Being

question 262

Multiple Choice

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

• A) consumer surplus of Scottish consumers of wool increases.
• B) producer surplus of Scottish producers of wool increases.
• C) total surplus of Scottish wool consumers and producers remains constant.
• D) it is reasonable to infer that other countries have a comparative advantage over Scotland in wool production.

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