(a) What is the new world market relative price? (b) Does foreign gain from trade? Illustrate your answer by dra and consumption points under free trade as well as foreign's autarky and free trade. (c) Does home gain from trade? Illustrate your answer by drawi consumption points under free trade as well as home's indiffer and free trade. (d) In the light of this exercise, which party will gain more fr agreement between Australia and the European Union? In relative size of the countries