English, asked by helkarprashant9, 14 days ago

gains from trade will be maximum when the international ratio of exchange is

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Answered by satishkumarpura222

0

Answer:

However, if there is imperfect competition and tariff or other trade restrictions are present, there arise differences in cost ratio and price ratio in each trading country. As the price ratio (PX/PY) is more than the cost ratio (CX/CY), the actual gain from trade exceeds the potential trade gain (Ga > GP).

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