If we allow free trade in a small nation's industry where there is a domestic monopolist, the monopoly firm:

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Quizplus · Accepted Answer

Allowing free trade in a small nation's industry where there is a domestic monopolist typically leads to increased competition from foreign firms. This competition forces the domestic monopolist to lower prices and increase output to remain competitive, benefiting consumers with lower prices and more choices.

If We Allow Free Trade in a Small Nation's Industry