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North Borea is a closed economy. In North Borea, monthly demand for wool scarfs is determined by P = 98 - Q, while the monthly

North Borea is a closed economy. In North Borea, monthly demand for wool scarfs is determined by P = 98 - Q, while the monthly supply is given by P = Q. The world price of wool scarfs is set to $37 per unit. North Borea has no intention of opening trade with the rest of the world, fearing that such trade will eventually destabilise its military regime. What is the net gain/loss from remaining a closed economy (results are rounded to the second decimal place)? a. $1860.50 gain b. None of the other answers. c. $1860.50 loss d. $684.50 gain e. $144.00 loss

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