Essay

International trade can have big effects on domestic  markets. For both an   import good and an export good (in other words, address  each bulleted item   below twice—once for import and once for export), describe  how opening up to   international trade affects the following: 

•    supply   or demand for the particular good, 
•  the   competitiveness of that good’s market, and 
•  how   the change in competitiveness affects equilibrium price and         quantity. 

Stepping away from the import/export examples, describe  how opening up to   trade specifically affects a domestic monopoly. Include an  explanation, using   game theory, of how even a single additional competitor can  lead to a market   outcome similar to perfect competition. 

Your essay must be at least three pages in length (not  counting the  title  and references pages) and include at least three  peer-reviewed  resources.   Adhere to APA Style when writing your essay, including  citations  and  references  for sources used. Be sure to include an introduction.  Please  note  that no  abstract is needed.