(General Equilibrium and Economic Efficiency (Chapter 16

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Chupter JO 

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لحعجصمح() عا با ‎Vopios‏ ® Gecerd Cyuiibriuw @Oudpsis " GP Pviewy iu Exchange " quip ved CP Pivieury ® GP Rcteuy in Productiva 0۳۷ 1S Oke S 

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لحعجصمح() عا با ‎Vopios‏ © Phe Guies Proow Pree ‏له‎ ® Ong Oveniew--The CCP Piven oF Covwwpetiive Ourkets # Ok Ookhets Pail 0۳۷ 1S Oke SD 

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‎ucsis presuves tht‏ زواجت اشی() ظ نج اطعا اوه وه رت 0 ‎0۳۷ 1S Oke ‎ 

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® Gecerd equilbruc ‏عا صنسصل وراه‎ ۱ ‏ی‎ ic of workets siwutocevusty ond takes the Peedvack ‏ات از تلا‎ 0۳۷ 1S Oke S 

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" Peedback ef Pent is u prive or quantity uduustved ia poe warket caused by prive ‏سرت رون وت‎ ta neloted wurkets. 0۳۷ 1S Oke Oo 

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=D. otercdepecdtedt Ourkets--Oovicry 9 Geverd Cquiibriuc ‏مین و‎ ۰ ‏او ری‎ ۶ ‏او سول‎ * Onvie theater tickets 0۳۷ 1S 6 

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‎Darke:‏ الط هه مر ‎und Orlevoussrtie Qrutks‏ لت" عنه() ‎Orwerd Cudbrine Coder: ‏وبحم مصاع ممح و و‎ ‏سس‎ deco ‏اس‎ ‎ ‎Go ‏سعد زه ‎ ‎Ore be prernord ‏سس‎ 0 $4 toc os ack ‏لاط سس‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ 

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‎und Orlevoussrtie Qrutks‏ لت" عنه() ‎Darke:‏ الط هه مر 

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تعو(ه() ول ججرو هه ‎Vw‏ ‏ع؟) سول مه عس" طنه() ® Observativa ‏ه‎ Ditkout poosidertay the Peedback ePPect witk yeuerd equilbriucy, the ipuct oP the tens would © Dhis is co iepportodt ooosiderciva Por policy wukers. 0۳۷ 1S ۵ 0 

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تعو(ه() ول ججرو هه ‎Vw‏ ‏ع؟) سول مه عس" طنه() ® Qvuestivw © Okt would be the Peedbuack ePPevt oP a tex xpos? © Oko we the polioy ieopiicaives oF ‏ه بصن‎ ۱ 0 ‏و صا لجموموومه جاو‎ ‏یه صاا دز منوت ان‎ 0۳۷ 1S Olde 0 

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The ‏حول موه‎ oP Totercraiocd Qurkets " roa ud the Ouited Grates export ‏هروه‎ ‎ued ure, therePore, ivterdepecdedt. © raul licvited exports ic the bate (QOO’s usd eat) JOT O's. ® Gvecadly the export couteols were to be rewoved, vod (Braziica exports were ] ‏وكمجصودا صا‎ 

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ععوحل جص م ۱ ۵۷( صن ‎oP‏ ® Parti Oasis © Ornited dowestic sopbeo price will Pal ood dowestic deen Por sppbec products would ما 

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The ‏حول موه‎ oP Totercraiocd Qurkets ® Geverd @udsis ‎.G. the price oP sopbeuss urd vulput‏ ار باه و مرن ‎would iaoreuse; (D.G. exports‏ ‎and @roviicg exports would Pall (eved oPter‏ ‎0۳۷ 1S ۵» ‎ 

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)۳۳ ‏مسب‎ tr Cacho ® Gackenp ‏و لت طسو‎ poe vow be wade better oPP without cabsiccy ‏وب اه موه‎ DFP (Pareto er Piviewy). ® Dke @duootages oP ‏ولوس"‎ رای و ‎Prd betwee two ponies‏ و ۳ 

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)۳۳ ‏مسب‎ tr Cacho ۰ Ossucvptiow © Di cowanvers (countries) © Dw wods ‏و‎ otk people kapw euck vikers prePerewes ® Cxokuniiey qoods inuolves zerv iroresuriiod 1770515 © lowes & Koren have g total oP ID units oP Pood ord O units ‏ای ام‎ 0۳۷ 1S ۵» 

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Pre @dvoctage oP Trade مسا و ‎Trae‏ تساه لس ‎edu‏ ‏0,0 48,۲40 40 خلج ‎١‏ حول ‎FF, FC‏ . 4 ۲ بت بات ‎(orn‏ ۰ بجاو ۳ ۳ ۶ 06 و مس ۰ باه 3 لیخ ۴و ‎laces’ ORG‏ ‎(eeu wad dawer ore willing 7 ire: Koro‏ ‎trades 10 Por UP. Oheu te ORG & wt equ,‏ تمه ‎there ip xpta Proc trend. The‏ ‎whe te ORG & equd.‏ حون مشاه مر ع0 عبت ‎1S‏ 0۳۷ 

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)۳۳ ‏مسب‎ tr Cacho 5 ۲ Edeworts vx Oia ® Ohick trades vo ‏ماه انیت هجوت‎ wit be ePRictedt ooo be thustcoted ‏رن‎ ‏)مه لاه رم‎ Box. 0۳۷ 1S ۵۷» 0 

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له حلسم ‎qe ee oF Dy‏ 177 0 ‎١ 0‏ ‎١ 1‏ 1 ! مساك ‎‘Phe tard‏ 3 1 سيل :© جا طحم ‎bePore‏ ‏ی ۵ 0 | ‎ke PP ond 0 & Kara ۱ ١‏ ‎kar OF und SO, ۱ ۲ her PP aed PO, |‏ 1 ۱ 1 1 0 1 ‎١ 1‏ 1 

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)۳۳ ‏مسب‎ tr Cacho 9 GP Pied Ollovatioes OP dawes’s ood Karen's ORG ae the save ut @ the dlocaica ‏.مجو اناج جز‎ ¢ Phis depeuds oo the shupe oP their 0۳۷ 1S Obde SD 

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2 Oke Od Ds ‏اسلا‎ 

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2 سوه 60-66 كيم )۳۳ ‏مسب‎ tr Cacho 4< 0 ۳۳ ‏(مس‎ ‎Wnt: & he ORC equd | ١ 2 4s Ort Ped? Q 27 O,? O° Ds ‏اسلا‎ 

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عمسسا) بط © (Bay ‏با موم چم‎ stad ‏مومت سل نب مه‎ worse DBP (closer ty her ape اس رلسمی ۰ 6 لماج مج جا اجو مسجم لمم لمكا ررمي torr ‏سي‎ مساب ‎ORG te equ‏ ‎todPPereuce curves ore‏ دز ماه ع له یمه اس وه ی 

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)۳۳ ‏مسب‎ tr Cacho 8 ‏ب۲۱/‎ Courant Curve ° Do Ried of possible ef Picicd ‏تساه‎ of Pood vod cothiog between (Koro od dewes, we vould look Por oll points oP tocgeary betweeo ‏ره رز لس عؤصوال خام اوح‎ 0۳۷ 1S Obde OF 

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eee ‎OS‏ ی ‎The Ovdirast Cure ‏له تفت سح ‎ ‎ ‎ ‎ ‎ 

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)۳۳ ‏مسب‎ tr Cacho عمسسیران ® عا مه یمه ‎DH potas oP‏ )0 ی حول ©( .. ‏ی ع‎ core shows ‏له‎ ‎dlocuives that are (Pareto ef Picicdt. «+ Porete ePPicicd docoion vocurs wheo trode will woke sowevur worse oPP. 0۳۷ 1S ‏ی‎ 

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)۳۳ ‏مسب‎ tr Cacho ® Oppiicaica: Mhe policy icoplicaica oP (Pareto Q) 0 Rexwove quote * )0 ‏جوج‎ ysict * Gowe workers lose 9( Gubsidies to the workers thet vost bee thoc the yoiu ty pours 0۳۷ 1S Oke OP 

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)۳۳ ‏مسب‎ tr Cacho ® Cowsuver Cquiibriuc in ao Oowpetiive Ouarket ® Cowpetiive warkets have woop actual or poteoial buyers uc sellers, sv iP people do ut fie the teres oP oo exckoage, they coc took Por carter seer who oPPers better terse. 0۳۷ 1S Oke CO 

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)۳۳ ‏مسب‎ tr Cacho ® Cowsuver Cquiibriuc in ao Oowpetiive Duarket © Phere we woop Uaveses ond Kaew. © Dhep we prive tuhers © Prive oP Pood ed clothiog = ( (retaive prices wil deterxviae trode) وه ی ‎1S‏ 0۳۷ 

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dor Orga: Cock howe baw 

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)۳۳ ‏مسب‎ tr Cacho © Goruriv ‏مه .۵ وه‎ P, =O ‏له مات ۴ 003۵) نپول و‎ ۱ ۰ © Karen's ORG oF chothtcry Por Pood ‏جز‎ ©. ‏.علعصص! احج ارب ول و‎ © CCareu will wort to trode. ‏و‎ Phe worket ts to disequilbrivc. * Gurls oF clothe ¢ Ghortage oP Pood 0۳۷ 1S Obte SE 

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)۳۳ ‏مسب‎ tr Cacho یی 0) "ا ‎Wow would the warket reack equilbrive?‏ © © Wow does the vutoowe Proow the exchorye wit woop people ‏حال‎ Proow the exchooge betwee tw people? 0۳۷ 1S ‏ی‎ 9 

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)۳۳ ‏مسب‎ tr Cacho « ۱۱ Coowwir CPRivieuy vP Covwpetiive Ourkets ‏و با مب و‎ dt poict O (us shows oc the vet cide) that ‏جنشاجدجوحص ه جز وصتمحطان حول‎ ae ‏مط روت‎ 0۳۷ 1S Obde OE 

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)۳۳ ‏مسب‎ tr Cacho ® Obsenuiow powering OC. 0) Giowe the two iedPPerewe vuves we frogeut, the pow peti ‎dlovative is ePPiviect.‏ انوس ‎9( Phe ORG, is equd to the roti oP the prives, or DRG, = PSP» = ORGS ‎1 ‎eo" ‎0۳۷ 1S ‏ی‎ SO ‎ 

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)۳۳ ‏مسب‎ tr Cacho ® Observutives ‏رصم‎ 6۰ 9) OP the todiPPereuce curves were ot focgedt, trode would pour. #) Tre vowpetiive esuilbriuc is uokieved without ictervectiod. 0۳۷ 1S Ore 0 

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)۳۳ ‏مسب‎ tr Cacho ® Obsenuiow powering OC. له مور روموت ‎S) dea‏ wutudly beoePicidl trades will be vow pleted ued the result ‏انوس‎ ‏شمان‎ oP rescues will be eoourwicdly EPP ivicct (ihe First theprew OP wears ecowwire) 0۳۷ 1S Ore 0 

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)۳۳ ‏مسب‎ tr Cacho ۱ Policy Issues © kot is the role oP ‏79س و‎ 0۳۷ 1S Obte SS 

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Gauipy wed 9۳۳ ‏رجوحنح‎ 94s co EP Aiciedt dlocotive oso oo equitable صا ‎kow‏ نید رحس ‎Coouwwists ued others‏ ه 0۳۷ 1S Obde 0 

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Gauipy wed 9۳۳ ‏رجوحنح‎ 2D ke Ottty Possibilities (Prvatier © ‏نب‎ ‎Pike level oP ‏مد اه اه ما مه‎ people uchieve wheu they hove teoded to oa dl dlocaives that are ‏.لمجو تاداع‎ 0۳۷ 1S 9 0 

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Gauipy wed 9۳۳ ‏رجوحنح‎ Korea's EC S& Powe efit. © Cowpaed iy W, 6 & woke vor persou better oPP witout wwohiy the vier worse oPP. hows’ Diy 0۳۷ 1S Obde PS 

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Gauipy wed 9۳۳ ‏رجوحنح‎ Korea's B45 W equittble? ‏ین و‎ the voly choices we EC © Is Boor equitcble? ‘It depeuds va perspevive. © 1B owes tora wy > (Corea’s total iy lowes’ Oty 0۳۷ 1S Obde OF 

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Gquip und GPRicteay B45 W equittble? ‏یبیل و‎ the voly choices we L&C © Is Bove equichle? It depeuds vo perspenive. © Wony be wore equi ‏جوا‎ fe tetas be wore equ, terePore, om lowes’ Oty Obde PS 

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Gauipy wed 9۳۳ ‏رجوحنح‎ " Govid OePare Pucntious © Osed to ‏هباشم ها نجل‎ that ane upplied to ‏عمداص ال و رف خر لصو‎ What is social desirable 0۳۷ 1S Obde 0 

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Cow Otews vF ‏رش‎ حد سوام 8 ‎a‏ © Ol wewbers oP ‏عمجت مج سرت ره‎ oP «pods # Ravtica © Ouxiwize the utility oP the feustuvell-pPP ‏تم‎ 0۳۷ 1S Ore PP 

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Cow Otews vF ‏رش‎ ار © © Duxieize the total utili: oP oll wewbers oP soviet © Darkeroricuted © Phe worket vutoowe is the wost equitable 0۳۷ 1S Ore FO 

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Gauipy wed 9۳۳ ‏رجوحنح‎ ® Dke Goon ‏ولو(‎ Puortiod cod Equity © Gouip is depended ‏ام عرص دجو‎ ‏رم‎ Pro (Cyalitaricc to Darket-orectatiocd. 0۳۷ 1S Obde 9 

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Gauipy wed 9۳۳ ‏رجوحنح‎ ® Gguip ocd PerPeot Cowwpetiiva ‎wowpeitive equilbriuc beads to a Purety‏ 0 و ‎ePRiciedt putoowe that way or sup unt be‏ ‎0۳۷ 1S Obte 0 ‎ 

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Gauipy wed 9۳۳ ‏رجوحنح‎ Koray © Qoicte vo the Procter oe we Pareto ef Piviect. oO) 810, we rete 9, oequal distibuiiras ‏له‎ ‎oreo eFPiviedt. © Do chee eouiy (wore equ distributive) west the dhocativg be ePPiciest? O« 0۳۷ 1S Oke 0 

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Gauipy wed 9۳۳ ‏رجوحنح‎ ® Geoowd Thevrew oP OrPare Covuwwire 041 iadvidud prePereures ure vowwex, hea ey ee 22 aot xpos. 0۳۷ 1S Obte SO 

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Gauipy wed 9۳۳ ‏رجوحنح‎ ® Geoowd Thevrew oP OrPare Covuwwire © Cousider the post oP programs to redistribute feos ord the trode pPP betweeo equity ood ‏رسیم‎ 0۳۷ 1S Obte SO 

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)۳۳ ‏رسب‎ ta Productioa ® Qsanve © iced total supplies vP tur inputs; labor ord vupital © Crodure two products; Pood ood clothe ® Many people owe ond sell inputs ‏و و‎ © ‏یم‎ is dstibuted betwee Pood ocd ‏ناسا‎ 0۳۷ 1S ‏ی‎ 

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)۳۳ ‏رسب‎ ta Productioa © Observations ® Lichoge betwee supply ood dewwoed (eco © Choores ic the prive oP vor faput triggers ‏وس و مر‎ ood decwodd whick potublishes ‏جه‎ Peedback ePPevt. © Ose yeuerd equilbriuc ‏وراه‎ wits Predback ePPevts 0۳۷ 1S Obte SS 

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)۳۳ ‏رسب‎ ta Productioa ® @roduniivd in the Eckewortk Box © The Edqewortk box coo be used ty wecsure iuputs to the productive provess. 0۳۷ 1S Obte SO 

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)۳۳ ‏رسب‎ ta Productioa ‎@roduntivg to the Edgeuortk Box‏ "ل انحو جه خأ بكسي دوا ‎Back unis‏ © ‎kours‏ 90 رها مورا ‎hours‏ 90 راون لسن اه مسجت من و لسع بن ۰ ‎Oj = Clothicry‏ % ‎ ‎0۳۷ 1S Ore SP ‎ 

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)۳۳ ‏رسب‎ ta Productioa ‎Produver quibrive mu Cowper tiie‏ ا" ‎apt Darket‏ ‎® Cowpetiive ‏ل‎ ‎production. ‎0۳۷ 1S Obte SO ‎ 

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)۳۳ ‏رسب‎ ta Productioa ۰ Oovwwpetiive QOurket Observatioas © Phe wane rate (Ww) ued the price oP coptal (r) wll be he ‏لآ را بنج‎ ‎Oinikeize produrticn post‏ و < ,2/۳ +۰ ,۳ < بر + ‎ORNG = slope of the tsogquert‏ © اما ‎Covwpetiive equiibriuc7 is vo the production‏ © رایع راجت ‎Cowpetiive‏ °° ‎0۳۷ 1S ۵» 0 ‎ 

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‎Sov ov 0 00‏ ۵ باه ‎ ‎tet wk‏ موس موی تا ول .0 ست © ط © مب مد ‎Dove be‏ ‎ ‎ ‎ ‎Oe dou 90۳ 90" ‏مرمع‎ 90 ‎ ‎ 

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)۳۳ ‏رسب‎ ta Productioa ‎DP he Production Possibilities Procter‏ "ا ‎Ghows the vorious cowbicaivas oF Pood ced‏ © ‎dotkieg thot coc be produced wit Posed iaputs‏ نی ی موه ‎oF‏ ‏عنصت اعمفمصت جكلا مدصنا لجرفرج() © ‎0۳۷ 1S 605-68 ‎ 

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100 (Ow) 0۳۷ 1S ‏ی‎ 

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0-00۰ 0 ه60 ‎ae‏ (Oras) Obde OF 

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)۳۳ ‏رسب‎ ta Productioa ® Oupu GPRiciewwp © Goods wust be produced of witty post ood people's wihaypaess to pay Por thew. OPP ct ts ‏سح‎ ‏تساه‎ ‎* Ooms where DRG = ORT 0۳۷ 1S ‏لب‎ OS 

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)۳۳ ‏رسب‎ ta Productioa ® Qsanve © ORT = Cad ORT =C © Oocenvers will yive up © clothes Por ( Pood © Oost oF 1 Pood is ( ‏رسای‎ ‎© Dow tithe Pood is bec produced © daoreuse Pood production (DRG Pals urd ORT icoreuses) 0۳۷ 1S Obte SO 

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)۳۳ ‏رسب‎ ta Productioa a GPR ivieay ‏ك1‎ Output Ourkets © Commer’ s Oudeet Blloratica MRS=P./P, © Profit Duxicviziagy Pir P, =MC, andP, =MC, ۰ mer Ge ‏د‎ oa =MRS MG, P, 0۳۷ 1S Oke OO 

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4 ی سوه سوه ‎P= O35‏ !0,20 =,© ‎DRT = DRO; Gy = GoPor‏ ‎Peron hn‏ Obte OS 

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Tre Gute Proow Pree Trade ® Cowpomive @dvootaye © ‏رصن د()‎ 1 kes 0 cowporaive ‏وم رل‎ per pouty © ta procuctay a yood iP the cost oF producicy that yood, retaive to the cost oF productay other qoods, ic (1, ie bauer that the post oF produciag the youd ia O, retaive to te 0۳۷ 1S Ode TO 

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Tre Gute Proow Pree Trade ® Cowpurtive Pdvoctacge © Cowpurtiive udvoctage is u relive weusureweu, unt ubschute. © 0 pouty with oo obsclate ‏رل‎ to the production oP ofl qoods wil oot have a powpendive ‏موزل‎ ia the prooductica oP oll ‏عل وص‎ * Exavple: Wolocd ood Tray produce cheese ued wice 0۳۷ 1S Obde TO 

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Wows oP bubor Required to Produce Cheese Wine (1 Ib.) (1 gal.) 9 0 لاس hy 9 9 AWolkrerd bras oo ubsvhite ‏مرلو‎ to bots products. 0۳۷ 1S Oke TO 

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Wows oP bubor Required to Produce Cheese Wine (1 Ib.) (1 gal.) 9 0 لاس 9 ۱ advackae ‎hd is to cheese: the vost oP cheese‏ وه ‎WO te vost oF woe ond W's cost oP‏ ‎cheese ty twice te vost oP wie.‏ ‎ ‎0۳۷ IO Oe TS ‎ 

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Wows oP bubor Required to Produce Cheese Wine (1 Ib.) (1 gal.) Wokeert 0 oe 41 9 9 Andy's ‏سم مه ‌ممت‎ ‏ماج زیر‎ the cont oP vheree. 0۳۷ IO Otte TH 

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Wows oP bubor Required to Produce Cheese Wine (1 Ib.) (1 gal.) Woke 0 9 teh 9 =) Otkou Trade: Borve PO = PO ta Wold & Indy. ‏لا‎ kar OP bre. oF kbar. wie - 06 ‏طم‎ 6 wax. cheese = OF by. or a ro whites, 0۳۷ 1S Oe 7S 

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Wows oP bubor Required to Produce Cheese Wine (1 Ib.) (1 gal.) Woke 0 9 41 5 5 Otk Trade: dy produces © ud. ocd trodes 0}; comes © bs. und © ‏عابي‎ ‎Otou Trade: 9 bs. on S ya. 0۳۷ 1S Ore TO 

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The GPPRevts ‏عاطامممن() و‎ Ikoport Quotas " ® Chaogiay Ourwobile Market © Aeoports (us u pervedtaye oP dowestic sues) ۰ 98 - 06 ۰ 1900 - 06 ۱ ‏حصب‎ ‏ساره‎ * ‏ج41‎ (900 dapoa exported O.S wiliza cars to the OG. * ‏اس 1996 و‎ the OCR exports Pet to 0.6© wiliza cars. 0۳۷ 1S ۵ TO 

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The 6۳۳ oP Butocovbile Ieoport Quotes ® Decoy the Isppurt oP the OCR () dapeuese vor prives wer veut 50, / in 9690-1089608, ‏له‎ اوه وی .۰6( ‎Dew Por‏ لت ‎O.G. profits by $d bilo‏ 0۳۷ 1S Oke TS 

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The 6۳۳ oP Butocovbile Ieoport Quotes ® Deosuricy the Iepurt oF the OER 9) Cis Dur prices were $OSO io $POO/auto higher theo they would hove beeo without OER, ۲۷ ۷۶ fF) O.G. ses wee by SOO,OOO wots ‏جمس‎ about CO DOO jobs. 0۳۷ 1S Ore OO 

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The GPPRevts ‏عاطامممن() و‎ Ikoport Quotas ® Deasuricy the Inport oP the OER S) Cost|lob = 525 ‏تن‎ (power = $400,000 0۳۷ 1S 9۷» 0 

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OPPeeey lowes ($cc) Quoi ‏وار‎ he Costs oP Proteviiva Prokwer Cac ‏وا عون‎ (صحقمة) 900 ses 87,000 9900 ‏هو‎ ‎980 ‎9,000 ‎4000 (8 willow) 990 99,00 9900 sso 9,000 4,800 Orexne ‏عصر‎ 21 ‏جه وجل‎ opporel ‏اوه مسیون‎ Opler televise حلسم بو 

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@u Overview---The GPPectewy ‏۴و‎ Cowprtive Ouakets ® Cocttiivas Required Por Goowwir © OP cen i Oxckoae MRS. =MR§. ۱ 0۳۷ 1S Ore OS 

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@u Overview---The GPPectewy ‏۴و‎ Cowprtive Ouakets ® Cocttiivas Required Por Goowwir © CP evewy io Cxckuage (Por 9 owt arte) 224 بط 2۲1 ,1/4 ۱ 0۳۷ 1S Oe OF 

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@u Overview---The GPPectewy ‏۴و‎ Cowprtive Ouakets ® Cocttiivas Required Por Goowwir © OP cew it he Ose oP Taps to Produtos (Por 0 cowpetive worker) \ MRTS,. =w/r=MRTS, 0۳۷ 1S Ore OO 

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@u Overview---The GPPictewy DE Cowprtiive Darkets ® Cocttiivas Required Por Goowwir © CPP vewy a he Oupu Dortet MRF. = MRS, (forallconsumer 0۳۷ 1S Oke OF 

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@u Overview---The GPPictewy DE Cowprtiive Darkets ® Cocttiivas Required Por Goowwir ° CP ovewy it the Oupl Oorket (ia powpetive worket) P. =MC,, B, =MC, \ MRT =MC,/MC, =P. /P, 0۳۷ 1S Okt 66 

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Okv Ouwkets Cul # Darket Power © ‏رات و وا‎ oo produ worket, DR < P OC = OR Lower culpa hoc ‏د‎ pow petitive worket Rescues dlocuted to caver warket 3325 ۱ 0۳۷ 1S ۵» OD 

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Okv Ouwkets Cul ® Darkest Power ® Oowpsvup in the lobor warket Resticted supply of habor ia Pood 5 Pee eee cal نم راهان ‎w/r‏ قوس * Cord wey MRIS, =,/r> w/r=MRTS§, 0۳۷ 1S 6» 0 

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Okv Ouwkets Cul 1" dopowplete | ‏بساكم ونان‎ © Lack oP ‏وه ناد‎ 0 banter to © Oxtercoliies ® Okes poosuopiive or productive predes vst wed bearPits to third panies whick changes the vost ond becrPits oP devisives ond creute ‏و‎ 0۳۷ 1S Obte SS 

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Okv Ouwkets Cul ‎Pubic Good‏ "ا ‎© Ookets undersupply public yoods becouse oP ۱ ussocivied with wecsuriagy DOU pio. ‏و ی ‎1S‏ 0۳۷ ‎ 

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060 یحو وت وه امه ‎and equibriuw‏ ® ‎that related warkets are uooPPevted, while your‏ اوه اه نموم وروت انوم هنزو ® oc dlocuivg is ePRiciedt whe ow poo Ker oot be wede better oPP by trade without wabicry 0۳۷ 1S Obde OF 

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060 " 5 ‏نانوی ری‎ desoibes ‏خام اعد ه‎ Prices ved quoutiies, so thot wheo puck lovaiva, the quoctiy decoded is equal to the qucotiy supplied ta every warket. ® De wily possibities Procter weusures af ‏واه متام‎ ie teres oP the bevels oP ult that eack persou uchieves. 0۳۷ 1S ‏ی‎ 

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060 " )8 ‏راومه و حص وجوج‎ equiibriuc ‏صطا امه اوه‎ ] the yovernnved way wisk to help redistibute wells Proow rick to poor. المستطاصص جز صر جونز ‎practic‏ مر ان بط ‎iP the mutput oP poe yood pact be‏ بطم ‎fueeused without imarceusicg the vulput oP sowe‏ .لوص ان و ی ‎1S‏ 0۳۷ 

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060 ۱ ‏با‎ productos possibilities Prooier weasures ul ‏شوت متام‎ ic terse oP the levels oP pulput that ood be produced wi ‏اوه مرش وه‎ oF faputs. ® PR Riciewy in ‏اه ماه وا‎ yoods tz powers is uckieved vay whe the DRG oF poe yood Por coother io coosuvpiiog is equ to the ORT oP cae yood Por contker ia productioc. 0۳۷ 1S Ore O? 

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060 ® Pree itercotivod tarde expands a ‏سةمممنا جوج باوج در و رنه‎ ® Cowpetiive warkets wup be ‏ماو‎ 0۳۷ 1S Ore SO 

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