Suppose Foreign had been a much smaller country with domestic demand. D* = 8 - 2P, S*

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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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