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Question: In the Monopolistic competition model with trade, all firms are identical, so all firms export. In reality, only about 20% of the US firms are exporters. Describe a way to account for this by extending the monopolistic competition model. How would firms differ? What types of firms would be exporters?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93123979

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