Why an increase in varieties of a good as a gain from trade

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Q. Why is an increase in number of varieties of a good regarded as a gain from trade? Can you think of economic disadvantages associated with greater product variety? Please explain in detail.

Q. If consumption increases by $12 billion when real disposable income increases by $15 billion, illustrate what is value of MPC?

 

Reference no: EM1371543

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Why an increase in varieties of a good as a gain from trade : Why is an increase in number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
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