When, with free trade, the total world demand for a product equals the total world supply...
When, with free trade, the total world demand for a product equals the total world supply of that product,
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the price of the product varies randomly between countries.
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the quantity of the product imported worldwide equals the quantity of the product exported worldwide.
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domestic demand for the product will decrease in importing countries.
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no-trade equilibrium is achieved.
Homework Answers
D is right option free-trade equilibrium is achieved.
When, with free trade, the total world demand for a product equals the total world supply of that product,free trade equilibrium is achieved.
•When free trade equilibrium is achieved byee country both country face same terms of trade .
•Both country demand same quantity of cheese and wine.
•Example united State and France.
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When, with free trade, the total world demand for a product
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