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The Elasticity of Import Demand for Raw Apparel Wool in the United States
C. E. Ferguson
Metodey Polasek
Abstract
Two issues are the subject of analysis in this paper. First, there is a theoretical discussion of the elasticity of import demand for a single commodity. It is shown that there is a strong presumption that import demand is elastic. Secondly, an empirical demand function is obtained for the United States import demand for raw apparel wool.
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