Equilibrium Without Trade Assume A country is isolated from rest of the world and produces steel o The market for steel consists of the buyers and sellers in the country No one in the country is allowed to import or export steel. H arc Inc items and derived items copyright o 2001 by Harcourt, IncHarcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Equilibrium Without Trade Assume: uA country is isolated from rest of the world and produces steel. uThe market for steel consists of the buyers and sellers in the country. uNo one in the country is allowed to import or export steel