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At Maersk, average ocean freight rates increased 5 9 % ( 4 9 % adjusted for bunker prices ) between 2 0 2 0 and

At Maersk, average ocean freight rates increased 59%(49% adjusted for bunker prices) between 2020 and 2021. This was caused by renewing long run contracts and higher short-term freight rates due to higher demand combined with bottlenecks and congestions. How will this impact opportunity costs you calculated above? Does this have an impact on trade? Explain.

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