Recent disruptions to global supply chains due to COVID-19 have made countries around the world consider moving away from international trade. Using either the HO model or the internal economies model with symmetric firms, explain what the costs to consumers of such a moving away from trade would be, and why. Explain also, using your chosen model, how domestic production would adjust due to a closing of trade. What parts of your chosen model's predictions are unrealistic, and what assumptions/parts of the model explain why this prediction occurs and why it does not occur in real life?

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