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qwelly [4]
3 years ago
10

The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrict

ions, 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
Business
1 answer:
djverab [1.8K]3 years ago
7 0

Answer:

higher in the steel market, lower in the rice market, and unchanged in the TV market

Explanation:

Producer surplus can be defined as the variance between the amount an individual or nation is willing to take for certain quantity of a product versus the amount they receive when the goods are sold at the market value. For the nation of Aquilonia to be importing rice that means producer surplus is higher because the variance is low, it will export rice because the producer variance is low, and hence it wants to give to other countries. But since it is neither exporting nor importing TV, that means that the producer surplus remained the same even after the change in policy.

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Musya8 [376]

Answer:

0

Explanation:

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That's why the taxable amount is 0.

6 0
2 years ago
Grocery stores are likely to hold ______ inventory of candies to meet the extra demand during halloween.
Degger [83]

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4 0
1 year ago
Welfare economics is the study of a. taxes and subsidies. b. how technology is best put to use in the production of goods and se
const2013 [10]

Answer:

The answer is b) how technology is best used in the production of goods and services

Explanation:

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7 0
3 years ago
Controlling the money supply to achieve desired macroeconomic goals is called
Sergio [31]

Answer:

The answer is monetary policy

Explanation:

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3 0
3 years ago
The derived demand for an input will rise when it is highly productive in ______. Multiple select question. increasing the costs
Step2247 [10]

Answer:

Tt is highly productive in reducing the costs to produce a product.

 it is highly productive in producing a highly valued commodity.

Explanation:

A product has derived demand If its demand is dependent on the demand for other products.

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