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Suppose the country of Ceria and Lithinia imposed tariffs on imports from all countries, and then they set up a free trade area, scrapping all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Now, Ceria begins to import sugar from Lithinia. However, Ceria had previously been importing sugar from another country, Cadnia, which produced sugar more cheaply than Ceria or Lithinia. This is known as:
Interest Rate
The portion of a loan subject to interest for the borrower, frequently shown as an annual percentage of the outstanding sum of the loan.
Antique Price
The market value of articles that have high value because of their considerable age and historical significance.
Interest Rate
The percentage of the borrowed sum charged to the borrower as interest, generally represented as an annual rate of the total loan amount.
Antique Price
The market value or cost of an object that has historical significance or is considered collectible due to its age.
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