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how the change in competitiveness affects equilibrium price and quantity. Stepping away from the import/export examples, describe how opening up to trade specifically affects a

how the change in competitiveness affects equilibrium price and quantity.

Stepping away from the import/export examples, describe how opening up to trade specifically affects a domestic monopoly. Include 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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