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[Week 6-4] Application: New Trade TheoryMicroeconomics

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    • Category : Social Sciences > Economics & Finance
    • Taught by : Jinhwan OH
    • Created By : Ewha Womans University
    • Offered By : Ewha Womans University
    • Date Added : 2022.11.08
    • Hits : 185
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    Inroduces Paul Krugman's New Trade Theory as another example of monopolistic competition and incresing returns to scale to explain product differetiation and intra-industry trade. Derives gains from trade from the fact varieties make consumer demand more elastic.

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