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Q2 (30 points): Suppose a medical-product export country decides to impose an export restraint (to restrict the quantity of medical product exports). Assuming the medical-product

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Q2 (30 points): Suppose a medical-product export country decides to impose an export restraint (to restrict the quantity of medical product exports). Assuming the medical-product industry has imperfect competition (such as monopoly) in the import country, use a domestic-market graph to show: (a) the effects of the export restraint (as opposed to free trade) on the IMPORT country's domestic price, domestic output, and import quantity; (b) how would the IMPORT country's consumer surplus and producer surplus be affected by the export country's export restraint? (c) What other consequences could arise in this case as a result of the export restraint? Your

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