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Japan is the second largest exporter of buses in the world (as of 2020). Suppose that Japan moves from autarky to free trade in buses.
Japan is the second largest exporter of buses in the world (as of 2020). Suppose that Japan moves from autarky to free trade in buses. Given the graph below, what are the gains from trade? There are three possible prices that you could choose from to solve this problem; part of what this problem is testing is whether you can identify where the world price would be relative to the autarky price for an exporting country
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