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Presume that in the absence of trade, the U.S. price for bicycles was higher than the world price for bicycles. Would allow international trade, mean that the U.S. would import or export bicycles? Who in the U.S. would benefit and who would lose with a free trade policy, and would the gains be greater than the losses?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91227188

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