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Economics history question a). What does the arbitrage inequality tell us about trade costs if we...

Economics history question a). What does the arbitrage inequality tell us about trade costs if we know prices in both markets and markets are fully competitive? b). How can trade can rise even if trade costs do not change? c). Explain why the division of labor is determined by the “extent of the market”.

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Rahul Sunny answered 7 months ago
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