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21 July, 00:06

If the world price of a good exceeds the domestic price of the good, will the country export or import the good. In this scenario who gain from free trade: Domestic consumers or Domestic producers? Explain.

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  1. 21 July, 00:34
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    1. Export the good

    2. Domesctic producers

    Explanation:

    Export the good will be the logical thing to do as producers will gain for the higher price of the goodin foreign markets.
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