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Assume that both the U. S and Canadian demand curves for lumber are linear The Canadian demand curve lies inside the U. S curve the Canadian demand curve hits the axes at a lower price and a lower

Assume that both the U. S. and Canadian demand curves for lumber are linear. The Canadian demand curve lies inside the U. S. curve (the Canadian demand curve hits the axes at a lower price and a lower quantity than the U. S. curve). Draw the individual country demand curves and the aggregate demand curve for the two countries. Explain the relationship between the country and aggregate demand curves in words.

Apr 23 2020 View more View Less

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