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Assume we divide up the world into two regions:the United States and the rest of the world. We will examine the competitive market for simple
Assume we divide up the world into two regions:the United States and the rest of the world. We will examine the competitive market for simple 2 GB flash drives and the trade between the United States and the rest of the world.
We know the supply and demand conditions in each region, which are summarized below:
Rest of the World:
Supply curve:
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