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Exhibit 18-8 -If the Country in Exhibit 18-8 Is Initially Trading Without

question 129

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Exhibit 18-8 Exhibit 18-8   -If the country in Exhibit 18-8 is initially trading without restrictions at a world price of $2.00 and an import quota of 50 units per month is enacted, the welfare loss resulting from higher domestic production costs is represented by area A) a B) b C) c + d D) b + d E) e
-If the country in Exhibit 18-8 is initially trading without restrictions at a world price of $2.00 and an import quota of 50 units per month is enacted, the welfare loss resulting from higher domestic production costs is represented by area


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