1.Suppose that domestic demand and supply of computer in a small open economy(Wonderland) are given by;

P=800-2Q (demand)

P=200+Q (supply)

(Answer the questions below by using graph)

a.What are the autarky price and the quantity produced?(10p)

b.What are the levels of domestic production, consumption, and imports if the world price is $300?(10p)

c.How would your answers in part (b) change if this country imposes a tariff of $50?(10P)

d.Calculate and show the welfare effects(producer gain, government revenue, production deadweight cost and consumption deadweight cost) of this tariff. (10p)