two question in macroeconomie cours .
Question Description
1. Suppose both supply and demand in a market arerelatively inelastic. Will a tax placed on the product in market generate arelatively large or small deadweight loss? Why?
2. If the world price of a good exceeds thedomestic price of the good, will the country export or import the good. In thisscenario who gain from free trade: Domestic consumers or Domestic producers?Explain.
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