Suppose the before-trade domestic price of natural gas in Australia is $15 per kg. The world price of natural gas is $30 per kg. Australia is a price-taker in the natural gas market.
-According to this statement, if trade in natural gas is allowed, the price of natural gas in Australia:
A) will increase
B) will decrease
C) will be unaffected
D) could increase or decrease
Correct Answer:
Verified
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