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2. A small country produces and consumes computer monitors with supply Qs = -50 + 3F and demand 52;; = 500 2P. Quantities are in

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2. A small country produces and consumes computer monitors with supply Qs = -50 + 3F and demand 52;; = 500 2P. Quantities are in millions of units. a. What greprice and quantity produced and consumed under autarky? b. If the world price is $80, what are domestic production and consumption and imports under free trade? c. If the government imposes a $20 tariff, what are the domestic price, production, consumption, and imports? d. Under this tariff, what are the changes from ne trade in consumer and producer surplus, tari' revenues, and total welfare (all these are expressed in dollars)? e. If each domestic worker in this industry can produce 600 units per year, how many domestic jobs are created by the tariff? f. How much surplus do consumers lose for each domestic job created by the tariff? g. How much total welfare is lost for each job created by the tariff? h. m quota is substituted for the tariff, what size quota will leave prices unchanged from what they would be with the tari'? i, Draw a diagram and label all prices, quantities, tariff revenue, and changes in surpluses

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