1) in a model of monopolistic competition, the gains from trade are based on comparative advantage. True False 2) A smal

[answerhappygod]

1) in a model of monopolistic competition, the gains from tradeare based on comparative advantage.
True
False
2) A small open economy can never gain by imposing atariff.
True
False
3) A monopolist produces the quantity where
price equals marginal cost.
price equals average cost.
price equals total cost.
price is maximized