4. Short Answer, each question write at least 130 words count
a) What determines which, if any or all, consumers benefit from opening up to trade?What determines which, if any or all, firms make a profit in theEEOS model?
b)Why might the film industry experience EEOS(think of Hollywood)?Explain at least 2 reasons that are specific to the film industry.
c) Which of the three models discussed in class so far do you believe is the least representative of the real world?In your explanation, discuss specific assumption in the model that you either find likely or unlikely to be true.While this is an opinion question, you need to provide a logical, well reasoned explanation to your opinion.
d)Explain the figure below (see attached file) in terms of the models discussed in class and the Baldwin podcast.Mention things discussed in class which could explain the trend over time.
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