When markets open up to international trade, we know that total surplus will rise.

Name: When markets open up to international trade, we know that total surplus will rise.
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Question

When markets open up to international trade, we know that total surplus will rise.
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Quizplus · Accepted Answer

Opening markets to international trade allows countries to specialize in producing goods for which they have a comparative advantage, leading to more efficient global production and an increase in total surplus, which is the sum of consumer and producer surplus.

When Markets Open Up to International Trade, We Know That