Question
Consider the domestic market for Good X in Country A. P0=$5, P1=$25, P2=$20, P*=$15, Pw=$10, Q1=40, Q*=80, Q2=120. The world market outside country A observes
Consider the domestic market for Good X in Country A. P0=$5, P1=$25, P2=$20, P*=$15, Pw=$10, Q1=40, Q*=80, Q2=120. The world market outside country A observes a price Pw for Good X. When international trade is allowed, what is the total gains from trade?
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Econometric Analysis
Authors: William H. Greene
7th edition
131395386, 131395381, 978-0131395381
