Question
what is the difference between small open economies and large open economies when they impose tariffs? What's the impact on domestic price (price buyers pay)?
what is the difference between small open economies and large open economies when they impose tariffs? What's the impact on domestic price (price buyers pay)? What's the impact on world price (price sellers keep)? Who bears the burden? And what are the resulting inefficiencies (dead weight losses) in each country?
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Classics In Game Theory
Authors: Harold William Kuhn
1st Edition
1400829151, 9781400829156
