Economics · International Trade
The formation of a customs union can lead to which of the following static welfare effects?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither trade creation nor trade diversion effects
- 2Both trade creation and trade diversion effects✓
- 3Trade creation effect only
- 4Trade diversion effect only
Correct answer
Both trade creation and trade diversion effects
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