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What is meant by dumping?
Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: marginal cost) of production. Common instance are subsidised industries in developed countries which then dump excess supply on developing countries
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
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assumptions
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