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Suppose France charges 2 Euros tariff on imports of a particular product. It can domestically produce this product at 8 Euros. There are only 2
Suppose France charges 2 Euros tariff on imports of a particular product. It can domestically produce this product at 8 Euros. There are only 2 other countries that produce this product: Turkey at 7 Euros, and Brazil at 5 Euros. Without any regional integration agreement, France would consume __________ products. When it enters into a customs union agreement with Turkey, it would consume __________ products. This is __________ to the economies involved
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