Chapter 15 Outline
IV. THE CASE FOR FREE TRADE
A. Decreasing Costs
	1. International trade allows some industries to increase output and take advantage of the lower average production costs that occur at higher levels of output.
B. Increased Competition
	1. In some industries, competition from foreign firms is the only way to keep a market from being dominated by one or a few domestic firms.
C. Diversity of Products
	1. International trade increases the diversity of products available to consumers.

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