2 When the nation of Ectenia opens itself to world trade in coffee beans, the domestic price...

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2 When the nation of Ectenia opens itself to world trade in coffee beans, the domestic price of coffee beans falls. Which of the following describes the situation?

a Domestic production of coffee rises, and Ectenia becomes a coffee importer.

b Domestic production of coffee rises, and Ectenia becomes a coffee exporter.

c Domestic production of coffee falls, and Ectenia becomes a coffee importer.

d Domestic production of coffee falls, and Ectenia becomes a coffee exporter.

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Principles Of Microeconomics

ISBN: 125206

8th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw

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Question Posted: Nov 04, 2024 06:00 AM

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2 When the nation of Ectenia opens itself to world trade in coffee beans, the domestic price...

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