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FACTS: Ireland's (a small country) own demand and supply of coffee are represented in the diagram below. The world price of a ton of coffee

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FACTS: Ireland's (a small country) own demand and supply of coffee are represented in the diagram below. The world price of a ton of coffee is E5. p on D S 5 3 20 25 35 40 45 60 A statement you need to evaluate whether true or false: "The domestic price in a situation of free trade is $5 and Ireland imports 5 tons of coffee." TRUE/FALSE

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