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Prove that for a competitive, small open economy, (i) free trade is the optimal policy, (ii) a lower tariff is superior to a higher tariff,

Prove that for a competitive, small open economy, (i) free trade is the optimal policy, (ii) a lower tariff is superior to a higher tariff, and (iii) some trade is better than no trade. (iv) In light of Arrow's framework for social evaluation, what are some of the deficiencies of this traditional approach to foreign trade policy evaluation? (20 points)

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