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20) Following the above question. If the banana exporting countries are able to form a banana cartel and raise the world price of banana collectively,
20) Following the above question. If the banana exporting countries are able to form a "banana cartel" and raise the world price of banana collectively, this would lead to _______ total surplus in exporting countries and _______ total surplus in importing countries. Assume there is no tariff for this question. A) lower; lower B) lower; higher C) higher; higher D) higher; lower E) Depends on how large the increase in world price is
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