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1: AUTARCHY (1 point) a) Depict Autarchy Prices and Output in HOME and FOREIGN. Compare. (2 points) b) Show the social surplus in each country
1: AUTARCHY (1 point) a) Depict Autarchy Prices and Output in HOME and FOREIGN. Compare. (2 points) b) Show the social surplus in each country by identifying Consumer and Producer Surpluses. (2 points) c) Explain why, in autarchy, the unregulated outcome (under perfect competition) maximizes social surplus. Prove that the claim is true
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
