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QUESTION
The U. market for snowboards is currently in equilibrium at price $220, but the world price is at $270. The US market opens up to the world market...
The U.S. market for snowboards is currently in equilibrium at price $220, but the world price is at $270. The US market opens up to the world market and Burton starts exporting snowboards. Calculate the additional benefit to total welfare in the U.S. (Round to nearest whole number).
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