4. winners and losers from free trade consider the market for meekers in the imaginary economy of meekertown. in the absence of international trade, the domestic price of a meeker is $32. suppose that the world price for a meeker is $24. assume that meekertown is too small to influence the world price for meekers once they enter the international market. if meekertown allows free trade, then it will meekers. given current economic conditions in meekertown, complete the following table by indicating whether each of the statements is true or false. statement true false meekertownian consumers are better off under free trade than they were before. meekertownian producers are better off under free trade than they were before. true or false: when a country is too small to affect the world price, allowing for free trade will never increase total surplus in that country, regardless of whether it imports or exports as a result of international trade. true false

Meekertownian consumers are better off under free trade than they were before : True. It is because consumers can enjoy lower price for a similar product since the world price of meeker is lower than its  domestic price, world suppliers can approach the Meekertown market and sell at a lower than domestic price to gain market share and enjoy higher margin comparing to the world market.

Meekertownian producers are better off under free trade than they were before: False. It is because their selling price is far above the world price, free trade will force them to either find ways to improve its products, reduce cost to maintain a more appropriate price level to compete with world supplier or to simply exit the market.

When a country is too small to affect the world price, allowing for free trade will never increase total surplus in that country, regardless of whether it imports or exports as a result of international trade: False. In fact, a country will increase its total surplus when it allows free trade regardless of its relative impact to the world economy. Through free trade, it helps the country to re-allocate it resources to make goods and services more efficiently in the way that the country may exploit its competitive advantages over other countries in the world.

Explanation:

answer; /// the above statement is (true); good luck

c

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