this is for holding javascript data
Cobi Smith edited Market_with_no_international_trade__.md
over 8 years ago
Commit id: 632d1db1e64c57cdba6d8e56ee3ebe49f5dcb745
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gains from economic activity = consumer surplus + producer surplus = surplus
https://en.wikipedia.org/wiki/Autarky
# Small open economy
assumes people can
1. sell any amount at world price
2. buy any amount at world price
Within lecture we're looking at diagram showing gain from exporting, using iron ore as example.