Suppose that all the buyers for a particular product live in Country 1, and all the firms that manufacture that product are in Country 2 . The foreign supply curve is Q=p. The demand curve is Q = 18-p. What is the competitive equilibrium? If Country 1 levies an import tariff, t, of $2, what are the new equilibrium price. quantity, and tax revenues? What is the equilibrium if Country I acts like a monopsony? What is the welfare- maximizing tariff for Country 1 (in the absence of re- taliation)?