Suppose a small country Wakanda exports only vibranium and adamantium. These two industries employ 50% of the population of Wakanda. Export is equal to 40% of Wakanda's GDP. 40% of all the export revenue Wakanda obtains from adamantium. Other things being equal, if the price of adamantium on the world market goes down by 10%, by how much Wakanda's welfare will change?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose a small country Wakanda exports only vibranium and adamantium. These two industries employ 50% of the population of
Wakanda. Export is equal to 40% of Wakanda's GDP. 40% of all the export revenue Wakanda obtains from adamantium. Other things
being equal, if the price of adamantium on the world market goes down by 10%, by how much Wakanda's welfare will change?
Transcribed Image Text:Suppose a small country Wakanda exports only vibranium and adamantium. These two industries employ 50% of the population of Wakanda. Export is equal to 40% of Wakanda's GDP. 40% of all the export revenue Wakanda obtains from adamantium. Other things being equal, if the price of adamantium on the world market goes down by 10%, by how much Wakanda's welfare will change?
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