This paper examines pricing policy, quality levels, consumer surplus and social welfare for the monopoly and non-monopoly case. It is shown that given certain realistic assumptions, the network industry under unregulated monopoly would yield more social welfare than in the case of several...

Classical theory of international trade has long advocated trade liberalization and open borders. However, this process is not necessarily beneficial to all countries involved. This paper focuses on two modeled economies that initially share the same technology and per-capita income, but differ...