Question
Could I get help with this? International trade can have big effects on domestic markets. For both an import good and an export good (in
Could I get help with this?
International trade can have big effects on domestic markets. For both an import good and an export good (in other words, address each bulleted item below twiceonce for import and once for export), describe how opening up to international trade affects the following: supply or demand for the particular good, the competitiveness of that good's market, and how the change in competitiveness affects market structure as well as equilibrium price and quantity. Stepping away from the import/export examples, describe how opening up to trade specifically affects a domestic monopoly, and an explanation, using game theory, of how even a single additional competitor can lead to a market outcome similar to perfect competition.
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