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Business, 24.03.2020 20:13 flyingcerberus1408

Suppose that the U. S. textile industry is competitive and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is . Describe the equilibrium using graphs for the entire market and for an individual producer. Now suppose that textile producers in other countries are willing to sell large quantities of cloth in the United States for only per unit.

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