ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Displacement and Rehabilitation

that (even with the demand curve unmoved) contrary to MS expansion in exports may accompany a reduction in tariffs. In their exercise total output remains the same even after the fall in tariff, so that the expansion of domestic sales is necessarily at the cost of (residual) exports. Under efficiency improvement total production expands and the conflict disappears.

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