Suppose Foreign had been a much smaller country with domestic demand. D* = 8 - 2P, S*
Question:
Suppose Foreign had been a much smaller country with domestic demand.
D* = 8 - 2P, S* = 4 + 2P.
Recalculate the free trade equilibrium and the effects of a 1.5 specific tariff by Home.
Relate the difference in results to the discussion of the small-country case in the text.
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Related Book For
International Economics Theory And Policy
ISBN: 9781292409719
12th Edition
Authors: Paul Krugman , Maurice Obstfeld, Marc Melitz
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