Free trade is considered a better trade policy since last many decades but it also has...

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Free trade is considered a better trade policy since last many decades but it also has some adverse impacts for some/a few countries. a. Can you explain with the help of a diagram how free trade can affect the efficiency of a small country? [10] b. Also, explain with the help of diagram how domestic welfare in a large country would be affected if tariff is imposed [10] Free trade is considered a better trade policy since last many decades but it also has some adverse impacts for some/a few countries. a. Can you explain with the help of a diagram how free trade can affect the efficiency of a small country? [10] b. Also, explain with the help of diagram how domestic welfare in a large country would be affected if tariff is imposed [10]

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a Free trade can increase efficiency in a small country by allowing it to specia... View the full answer