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Picturama is a firm operating in a small economy. If Picturama can produce more goods, it can do so at a lower cost per unit.
Picturama is a firm operating in a small economy. If Picturama can produce more goods, it can do so at a lower cost per unit. When the economy opens itself up to international trade, Picturama is able to enjoy these lower costs since it can now serve a larger market
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