Business, 26.03.2020 22:47, bjbass899

In addition to the positive welfare effects that free trade has on an economy, there are a variety of other benefits of international trade. Consider the following scenario: Without free trade, Sapphira has market power as a local producer. Once free trade is implemented in the local economy, Sapphira is no longer able to raise its prices above competitive levels. The previous scenario represents which of the following benefits of free trade? Lower costs through economies of scale An enhanced flow of ideas Increased competition Increased variety of goods

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In addition to the positive welfare effects that free trade has on an economy, there are a variety o...