Which of the following tools and concepts is useful in the analysis of international trade?
A)total surplus
B)domestic supply
C)equilibrium price
D)All of the above are correct.

Question

Quizplus · Accepted Answer

All of the above tools and concepts are useful in the analysis of international trade. Total surplus helps to determine the overall welfare effects of trade, while domestic supply and equilibrium price are important in understanding the effects of trade on domestic producers and consumers.

Which of the Following Tools and Concepts Is Useful in the Analysis