Trade under domestic monopoly conditions: summary results

Group members: ________________________       ________________________
 
                          ________________________       ________________________
 

    Comparing results, decide whether each of the following is consistently true or not.
 
    1. Free trade raises domestic consumption of items that would otherwise be produced by domestic monopolies.
 
 
 
 
 
    2. Free trade raises domestic production of items that would otherwise be produced by domestic monopolies.
 
 
 
 
 
    3. Free trade results in imports of items that are produced under monopoly conditions without trade.
 
 
 
 
 
    4. The overall gains from trade are larger when an item would otherwise be produced under monopoly conditions rather than perfect competition.