3. Assume that the nation of Portugal is "small" and unable to influence the Russian (world) price of steel. Portugal's supply and demand schedules (in millions of tons) are illustrated in the table below. Assume that Russia's price is $400 per ton of steel. Portuguese Steel Market Price ($) Qs Q 0 0 11 100 1 9 300 3 7 500 5 5 700 7 3 900 9 1 1100 11 0 a. With free trade, how many tons of steel will be produced, purchased, and imported by Portugal? Produced: Purchased: Imported: b. Calculate the dollar value of Portuguese producer and consumer surpluses. PS: CS: TS: c. Suppose the Russian government grants its steel firms a production subsidy of $100 per ton. What is the new market price of steel?