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If nations begin to specialize in production for the purpose of trade, a.the utility from consumption will increase, but not the total output. b.neither total
If nations begin to specialize in production for the purpose of trade,
a.the utility from consumption will increase, but not the total output.
b.neither total output nor well-being from consumption will change.
c.total world output will increase, as well as well-being from consumption.
d.total world output will increase, but well-being from consumption will not.
e.the impact on total output and well-being cannot be predicted.
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