Assume the U. S. is a small importing country in the market for flip-flops. It produces flip-flops domestically, and also imports them from the rest of the world, where the market price for flip-flops is $7 per pair. In the U. S., supply and demand equations for flip-flops are:
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Home » Business » Assume the U. S. is a small importing country in the market for flip-flops. It produces flip-flops domestically, and also imports them from the rest of the world, where the market price for flip-flops is $7 per pair. In the U. S.