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Imperfect Markets. a. Explain how the existence of imperfect markets has led to the establishment of subsidiaries in foreign markets. b. If perfect markets existed,

Imperfect Markets.

a. Explain how the existence of imperfect markets has led to the establishment of subsidiaries in foreign markets.

b. If perfect markets existed, would wages, prices, and interest rates among countries be more similar or less similar than under conditions of imperfect markets? Why?

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