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(13. Consider the New Trade Theory in Chapter s {a model of monopolistic com {a} What are the key assumptions made in the theory? lb}

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(13. Consider the New Trade Theory in Chapter s {a model of monopolistic com {a} What are the key assumptions made in the theory? lb} What is the level of prot at the long-run autarky equilibrium? Why? {c} What is the effect of trade on each m'fs demand curve? Illustrate your answe graphically. {d} Identify the two sources of gains from trade in this theory. 1'|"our

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