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When a country exports goods due to a higher world price, how does the producer surplus change?
How does comparative advantage lead to an increase in total surplus for a country engaging in international trade?
What happens to domestic consumer and producer surplus when the world price is lower than the domestic price?
In terms of national welfare, who benefits and who loses in exporting and importing scenarios?
If the world price of a good is \$5 and the domestic price was \$8, how does consumer surplus change when the world price is adopted?
In the context of national welfare, who benefits and who loses in exporting and importing scenarios?
Why is autarky significant in the study of international trade?
If the world price of a good is \$4 and the domestic price was \$7, how does consumer surplus change when the world price is adopted?
If the domestic demand is 150 units and the domestic supply is 90 units at a lower world price, how many units need to be imported?
How does international trade affect consumer and producer surplus when the world price is higher than the domestic price?