In the Opening of Free Trade,if World Prices of a Good

question 5

Multiple Choice

In the opening of free trade,if world prices of a good are less than domestic prices of that same good,

• A)domestic consumers will experience a loss of surplus.
• B)domestic prices will drop to the world price level.
• C)all domestic producers of that good will try to find another market because they can't compete with foreign producers.
• D)domestic producers will increase the quantity supplied in order to crowd out the foreign-produced good.

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