International Finance Discussion Papers, Issue 259Board of Governors of the Federal Reserve System., 1985 - International finance |
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Common terms and phrases
AC₂ actual foreign price appropriate policy appropriate trade policy autarchy expenditure average cost curve average cost pricing Cobb-Douglas consumption benefits consumption gains contestable markets cost characteristics cost pricing rules cost structure cost/output tradeoffs worsen cross-price elasticity DD curve Demand Characteristics demand curves demand shift developed countries domestic country domestic firm domestic industry domestic product economies of scale elasticity of demand elasticity of output expenditure minimizing policy Federal Reserve Board Finance Discussion Papers foreign competition foreign cost advantage foreign producer free trade expenditure function implies increasing returns International Finance Discussion jointness in production marginal cost NUMBER oligopoly optimal tax OPTIMAL TRADE POLICY P₁ P₂ perfect competition post-trade price product comparative advantage product spectrum comparative production technology protection range of foreign restricted trade returns to scale scale and scope scope elasticity sector single product comparative spectrum comparative advantage standard comparative advantage trade theory TT curve unambiguously yields