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ome Chapter 09 Problems & Applications X 5. Free trade benefits ig and Study Tools There are a number of good outcomes assodated with international trade for an economy in addition to the positive welfare offects from free trade. Consider the following situation: Options e Success Tips without free trade, Oriolers has market power as a local producer. Once free trade is implemented In the local economy, Orfelers is no Success Tips longer atde to raise its prices above competitive levels. ED TOR YOU The scenario described above represents which of the following benefits of free trade? Increased variety of goods althy Eating Self- Take the quiz!] Increased competition D An enhanced flow of ideas Lower costs through economies of scale dback O Grade It Now Save & Continue Continue without Saving