If the world price of a given product increases relative to its domestic price, then for that product:

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Bailey Eaton

Business

23 November, 17:01

If the world price of a given product increases relative to its domestic price, then for that product:

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Ayana Barry · Answer 1

If the world price increases relative to domestic prices, there will be fewer imports and increased exports of the given product because it would be cheaper to buy the domestic version and companies would make more selling the product on the international market.