importation of foreign prescription drugs make sense and should it be allowed? For what reason should the importation of prescription drugs be denied?…
September 10, 2020
In 2001, Bob’s Burgers charged $1.50 for a quarter-pound hamburger with all the fixin’s, and sold 7,500 of them. In 2002, although Bob raised the…
September 10, 2020

An industry is characterized by internal economies of scale and exists in two countries. If the two countries engage in trade, how does each country gain from trade? How does it affect the consumers? How do firms respond to trade? Hint: firms in this industry produce similar but differentiated products, which suggest that each firm faces different cost curves.

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