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Q. Explain the income and substitution effects and use the concepts to describe what happens when the price of a product decreases.

Q. A tropical country can produce winter coats, but there is no domestic demand for these coats. Explain how this country can gain from free trade in winter coats.

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  • gia replied

    A tropical country can produce winter coats, but there is no domestic demand for these coats. Explain how this country can gain from free trade in winter coats.

    Recommended 9/25/2016 5:05:47 AM
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