The world price of a ton of steel is $100. The price of a ton of steel in Mexico was S250 before opening the economy to trade. After Mexico opened the economy to trade, Mexico began O exporting steel and the price of steel in Mexico decreased to $100. O Importing steel and the price of steel in Mexico remained at $250. O importing steel and the price of steel in Mexico decreased to $100. O exporting steel and the price of a steel in Mexico remained at $250
The world price of a ton of steel is $100. The price of a ton of steel in Mexico was S250 before opening the economy to trade. After Mexico opened the economy to trade, Mexico began O exporting steel and the price of steel in Mexico decreased to $100. O Importing steel and the price of steel in Mexico remained at $250. O importing steel and the price of steel in Mexico decreased to $100. O exporting steel and the price of a steel in Mexico remained at $250
Chapter18: International Trade And Comparative Advantage
Section: Chapter Questions
Problem 2TY
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