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Finding trade action Calculate the gains from trade-that is, the amount by which each country has increased its consumption of each good relative to the

Finding trade action

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Calculate the gains from trade-that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked "Increase in Consumption"). Euphoria Bellissima Jeans Corn Jeans Corn ( Millions of pairs) (Millions of bushels) (Millions of pairs) (Millions of bushels) Without Trade Production 15 20 CO 48 Consumption 15 20 48 With Trade Production 0 80 32 0 Trade action Consumption 18 26 14 54 Gain's from Trade Increase in Consumption, 3 6 6 Grade It Now Save & Continue Continue without saving P ok Air

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