Business, 26.03.2020 02:02, giulianna41

The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing rice, exporting steel, and neither importing nor exporting TVs. We can conclude that producer surplus in Aquilonia is now .

a. higher in the steel market, lower in the rice market, and unchanged in the TV market. b. higher in the rice and steel markets, and unchanged in the TV market. c. lower in the rice and TV markets, and higher in the steel market. d. lower in the rice and steel markets, and the same in the TV market.

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The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. Whe...