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1. If there is a monopoly in a small importing country, does the monopoly still have its pricing power under the free trade? Please explain.
1. If there is a monopoly in a small importing country, does the monopoly still have its pricing power under the free trade? Please explain. 2. If a small country imposes a tariff on imports, does the monopoly regain its market power? Why? Is there a deadweight loss from a small country's import tariff when there is a monopoly firm? How does the deadweight loss compare to if the small country's market is perfectly competitive? 3. What is a "sheltered" market for a monopoly when a small importing country uses a quota? 4. Does the quota allow the monopoly to regain its market power? Why
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