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If nations begin to expand their specialization in production for the purpose of trade, Question 8 options: consumer surplus will increase, but not total output.
If nations begin to expand their specialization in production for the purpose of trade,
Question 8 options:
consumer surplus will increase, but not total output. | |
total world output will increase, and consumer surplus will increase as well. | |
total world output will increase, but consumer surplus will not increase. | |
neither total output nor consumer surplus will change. |
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