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Q. Now the monopolist discovers that it will export as much as it likes of its steel at the world price of $5/ton. It will thus expand for- export production up to the point where its marginal cost equals $5. How much steel will the monopolist sell, and at what price?
Answer: It would vend 10 million tons at $5/ton.
What effect do non-tradable goods have on PPP? Answer: The consequence is quite substantial. In 1997 the production of non-tradable goods accounted for about 55% of U.S GNP.
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explain the law of reciprocal demand trade theory of marshall
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Q . Consider that the relative capital abundance of Australia was so much greater than that of Sri-Lanka, that we would have to locate Australia far to the right on the K/L axis.
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roles of international trade in economic growth of the country
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