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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

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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 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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SP: Price of flash drives

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