Consider Figure 2.3, which shows free trade in motorbikes. Assume that consumers in the United States shift
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Consider Figure 2.3, which shows free trade in motorbikes. Assume that consumers in the United States shift their tastes in favor of motorbikes. What is the effect on the U.S. domestic demand and/or supply curve(s)? What is the effect on the U.S. demandfor-
imports curve? What is the effect on the equilibrium international price?
Data From Figure 2.3
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