Price (5) 45 42 39 36 33 30 27 24 21 18 15 12 9 6 75 Manly Oland sty Land World Price 7 8 9 10 10 Quantity in thousands) The graph above demonstrates the domestic demand and supply for a good as well as the world price for that good if this economity were to go from autarky to free trade, which of the following statements is true? Total surplus will increase by $42.000 I. Domestic consumers will purchase 2.000 und The country will expert 7.000 un

Principles of Macroeconomics (MindTap Course List)
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ISBN:9781305971509
Author:N. Gregory Mankiw
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Chapter9: Application: International Trade
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Price ($
45
42
39
36
33
30
27
24
21
18
15
12
9
6
75
World
Price
Manly
Oland sty
Land
7 8 9 10
10
Quantity
in thousands)
The graph above demonstrates the domestic demand and supply for a good as well as the world price for that good if this economy were to go from autarky to free trade which of the following statements is true?
Total surplus will increase by $42.000
Il Domestic consumers will purchase 2.000 und
The country will expert 7.000 un
Transcribed Image Text:Price ($ 45 42 39 36 33 30 27 24 21 18 15 12 9 6 75 World Price Manly Oland sty Land 7 8 9 10 10 Quantity in thousands) The graph above demonstrates the domestic demand and supply for a good as well as the world price for that good if this economy were to go from autarky to free trade which of the following statements is true? Total surplus will increase by $42.000 Il Domestic consumers will purchase 2.000 und The country will expert 7.000 un
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