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Experimental designs differ mainly in
Consumer Surplus
A term often used to refer both to individual consumer surplus and to total consumer surplus.
International Trade
International trade involves the exchange of goods and services between countries, driven by comparative advantages that allow countries to produce goods more efficiently.
Autarky Price
The price of a good in a closed economy that does not engage in international trade, determined solely by domestic supply and demand.
World Price
The price at which a good can be bought or sold abroad.
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