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The more elastic the demand curve, the smaller the value of lost gains from trade will be if tariffs are imposed
The more elastic the demand curve, the smaller the value of lost gains from trade will be if tariffs are imposed
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
