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Without free trade, Diamonique has market power as a local producer. Once free trade is implemented in the local economy, Diamonique is no longer able to raise its prices above competitive levels. The previous scenario represents which of the following benefits of free trade? Increased competition An enhanced flow of ideas Lower costs through economies of scale Increased variety of goods

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The answer is Increased Competition

Explanation: The increasing competition that has been going on in almost every type of business is driving companies to work each day with lower profit margins and better cost management. Greater freedom in prices and increasing diversification of products and services have been relevant factors that are contributing to this new scenario of greater competition.

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