Question: Question 6 - a) Explain in detail what is meant by the infant industry argument, using any relevant diagram. Describe a criticism against this argument

Question 6 - a) Explain in detail what is meant by the infant industry argument, using any relevant diagram. Describe a criticism against this argument for protecting an industry against free trade. b) What is meant by the term 'dumping' within the context of international trade? Briefly explain why firms engage in dumping. Write down two conditions that are necessary for dumping to occur.

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