"Answer the following microeconomics questions and their respective parts for section b" (attached)

Use the information in Figures 9.1 and 9.2 to work Problems 1 to 3. Figure 9.1 shows the U.S. market for shoes and Figure 9.2 shows Brazil's market for shoes if there is no international trade in shoes between the United States and Brazil. FIGURELI FIGURE 9.2 Chapter Checkpoint Problemsl to 4 Chapter Checkpoint Problems | to 4 Price {dollars per pair: Price {dollars per pelt] JO -- 10 -- l l i l 1 l i l I- D 2 4 6 B l0 0 l 1 3 4 anu'ty {millions or pairs per year} Quantity [millions of pairs per year]: 5. 3} Which country has a comparative advantage in producing shoes? b} With international trade between Brazil and the United States. explain which country would export shoes and how the price of shoes in the importing country and the quantity produced by the importing country would change. c} Explain which country gains from this trade. :5. 1With international trade, the world price of a pair of shoes is $20. a} Calculate the change in consumer surplus and producer surplus in LLS. as a result of international trade. b} Who in the United States loses and who in the United States gains from free trade in shoes with Brazil? 1 The world price of shoes is $20. a} Calculate the change in consumer surplus and producer surplus in Brazil as a result of international trade. b} In Brazil, who gains and who loses from free trade in shoes with the United States? Even though there are net gains from trade, governments restrict international trade to protect domestic producers from competition. - The four sets of tools they use are Tariffs Import quotas . Other import restrictions . Export subsidies 1. Select one of the tools employ to restrict trade. Define it and explain its impact in the market