What will happen to domestic monopolists' prices and outputs when a
Small country engages in international trade?

Question

Quizplus · Accepted Answer

Domestic monopolists will face competition from foreign firms in the international market. This will force them to reduce their prices and increase their output to remain competitive in both domestic and international markets. Therefore, prices will fall and outputs will rise.

What Will Happen to Domestic Monopolists' Prices and Outputs When