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Loraine Loraine
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9 years ago
Which of the following is true?
i.   When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good.
ii.   Compared to a no-trade situation, in a market with imports, consumer surplus is larger.
iii.   Quotas raise the domestic price of imported goods.
A) only i
B) only ii
C) only iii
D) i and ii
E) ii and iii
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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VincenzoDVincenzoD
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9 years ago
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Loraine Author
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9 years ago
Thanks
GeorgeNeist
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Thanks for your help!!
Lourd Jenkins
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This site is awesome
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