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Please Answer with explanation . Consider a country that imports a good from abroad. For each of following statements, say whether it is true or
Please Answer with explanation
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Consider a country that imports a good from abroad. For each of following statements, say whether it is true or false. Explain your answer.
- "The greater the elasticity of demand, the greater the gains from trade."
- "If demand is perfectly inelastic, there are no gains from trade."
- "If demand is perfectly inelastic, consumers do not benefit from trade."
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