1. Suppose the supply schedule for domestic producers is given by Q5 = P and the demand schedule for domestic consumers is given by (I? I 100- SP. a. (4 pts} Draw the demand and supply schedule and find the price {and quantity) where supply equals demand. At this price, how many goods would be imported. in. {5 pts} Draw the import demand schedule for this economy and suppose. Suppose the economy is a small open economy and could import all it wanted at a world price of 515. How much would the economy produce? At this price what is domestic consumption? How much is imported? c. (6 pts} Now suppose the government imposes a tariff of $5 on each imported good. What price will domestic producers charge for the good {Explain}? What is domestic consumption? What are imports? (For full credit, show your graphs and derivations! d. (5 pts} Does the tariff make the economy better off? (For full credit, show what happens to consumer surplus. producer surplus and lovemment revenue and