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If a country imports a small fraction of the world's supply, we expect it to face a nearly perfectly inelastic, vertical residual supply curve. The
If a country imports a small fraction of the world's supply, we expect it to face a nearly perfectly inelastic, vertical residual supply curve. The type of supply curve it faces cannot be determined. V a nearly perfectly elastic, horizontal residual supply curve. an upwardsloping residual supply curve. Suppose that the market supply elasticity, n = 1.3, the demand elasticity in other countries, so = - 0.7, and that the United States' share of world rice output, 8 = 10.0%. Its residual supply elasticity 'nr' is 19.3 (round your answer to one decimal place)
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