Asked by

Jasmin Nazario
on Nov 17, 2024

verifed

Verified

​There are only increases in total surplus when a country exports a good, since more units of the country's output of that good are produced.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the production and consumption of goods and services.

Exports

Items or services manufactured in one nation and marketed to purchasers in another.

  • Assess the bearings of trade on consumer surplus, producer surplus, and the aggregate economic gain.
verifed

Verified Answer

BK
Brooke KaczrowskiNov 22, 2024
Final Answer:
Get Full Answer