11. Suppose that if Iceland and Japan were both closed economies, the domestic price of fish would...

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11. Suppose that if Iceland and Japan were both closed economies, the domestic price of fish would be $100 per ton in Iceland and

$90 per ton in Japan. If the two countries decided to open up to international trade with each other, which of the following could be the equilibrium international price of fish once they begin trading? LO26.3

a. $75.

b. $85.

c. $95.

d. $105.

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Microeconomics Principles, Problems, And Policies

ISBN: 9781259915727

21st Edition

Authors: Campbell McConnell

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Question Posted: Sep 30, 2024 07:01 AM

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11. Suppose that if Iceland and Japan were both closed economies, the domestic price of fish would...

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Microeconomics Principles, Problems, And Policies

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