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Transacted between parties of roughly equal bargaining power

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Trade is considered a good thing when transacted between parties of roughly equal bargaining power and where the rules are well known. Three specific problems with trade are (1) Very different power relationships, (2) non-standard measurements, and (3) border taxes. Provide an explanation of how/why each these are problems. Separate answer for each of the three items.

Reference no: EM132187738

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