ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Chart 1 below illustrates the tennis shoe market in Canada.
5-1- If Canada did not trade with other countries in this market, then what would be the
The price of tennis shoes in the world market is $ 15.
Suppose Canada opens up to free trade with other countries.
5-2- What would then be the quantity
5-3- Calculate and graphically represent the variation in social surplus brought about by opening up to free trade.
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