A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade with each other, then we would expect O each country will export different varieties of the product to the other. O the country in which the price of the product is lower will export the product. the countries will trade only with other nations they are not in competition with. the country with a relative abundance of the factor of production in which production of the product is intensive will export this product. O neither country will export this product since there is no comparative advantage.

A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade with each other, then we would expect O each country will export different varieties of the product to the other. O the country in which the price of the product is lower will export the product. the countries will trade only with other nations they are not in competition with. the country with a relative abundance of the factor of production in which production of the product is intensive will export this product. O neither country will export this product since there is no comparative advantage.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A product is produced in a monopolistically competitive industry with scale
economies. If this industry exists in two countries, and these two countries engage in
trade with each other, then we would expect
each country will export different varieties of the product to the other.
O the country in which the price of the product is lower will export the product.
the countries will trade only with other nations they are not in competition with.
O the country with a relative abundance of the factor of production in which
production of the product is intensive will export this product.
neither country will export this product since there is no comparative advantage.

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