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Suppose a country opens its markets to free trade and trades two types of goods, chemicals and electronics (stereos, TVs, etc.). The capital used in

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Suppose a country opens its markets to free trade and trades two types of goods, chemicals and electronics (stereos, TVs, etc.). The capital used in the production of these goods is obviously very specic in the short run, but labor is mobile. In autarky the country's relative price of electronics is lower than the world price (PA

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