B- Suppose that for a firm in the textile industry:
• Total fixed costs (start-up costs of factories, capital equipment, and so on) are $20 million and
• variable costs = $100 per item.
• Because more firms increase competition in the market, the market price falls as more firms enter
P= 100 + (60/n)
where n represents the number of firms in a market.
• size of the Chinese textile market is 27 million
• size of the Brazilian textile market is 3 million
1- What will be the equilibrium number of firms in the Chinese and Brazilian automobile markets without trade?
2-What will be the equilibrium number of firms after trade?
3-What will be the outcome of free trade under monopolistic competition?
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