{1 point] (3 points] {2 points] {4 points] (3 points] (2 points] {5 points] 'I'wocounhy model with IMPORT QUDTAS: use the frmctions above a] Calculate the free trade world price and importstexports for each country. Also find CS, PS, and 35 for each country in free trade. b) Suppose the IMPDRTER imposes an import quota of St} units. Calculate I the new equilibrium world price. (which is the exporter's domestic price.) - The importer's domestic price after the quota is placed - the quota price. {difference between the domestic and world price} c} Find the change in Social Surplus in each country relative to free trade. Give details on changes to CS and FS. Recall that quota rents need to be included in social surplus. EC: SSMP = (CS + PS} + Quota Rents. d] Find the importer's optimal quota {to the nearest whole number} given the exporter has free trade. Show your work. Twocountry model with EXPORT QUOTA: use the functions above. Assume the importer does not impose any tariff or quota. a] Suppose the exporter imposes an export quota of 30 units. . Calculate - the new equilibrium world price. (which is the importer's domestic price.) - The enporter's domestic prices - the quota price. b) Find the change in Social Surplus in each country relative to free trade. Give details on changes to CS and FS. Recall that quota rents need to be included in social surplus EC: SSW = {CS + F5) + Quota Rents d] Find the exp orter's optimal quota [to the nearest whole number} given the importer has free trade. Show your work