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

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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 [Australia And New Zealand Edition]

ISBN: 9781337408066

6th Edition

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

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