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What is meant by the concept of trade diversion? O a. Something that is predicted by theory, but has never been observed in practice. O
What is meant by the concept of "trade diversion"? O a. Something that is predicted by theory, but has never been observed in practice. O b. An increase in economic efficiency that comes with a newly established trading relationship. O c. Trade that is shifted between members of a customs union. O d. The creation of a free-trade area. O e. The replacement of an existing foreign supplier from one country with a new foreign supplier from another country based on its membership in a trade agreement
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