Suppose a Country Begins to Allow International Trade in Steel

Multiple Choice

Suppose a country begins to allow international trade in steel.Which of the following outcomes will be observed regardless of whether the country finds itself importing steel or exporting steel?

A) The sum of consumer surplus and producer surplus for domestic traders of steel increases.
B) The quantity of steel demanded by domestic consumers increases.
C) Domestic producers of steel receive a higher price for steel.
D) The losses of the losers exceed the gains of the winners.