Assume that all laptops are identical goods, and the market is competitive. The demand for laptops from Canadian users is given by the demand curve Q = 9 P , and the supply of laptops from Canadian producers is given by the supply curve Q = P 2 , where the price P is measured in hundreds of dollars and the quantities Q are measured in millions. Canadian market for laptops is large enough to influence the world price. The export supply curve of foreign manufacturers selling in Canada is given by Q = 2 P 1. (a) What would be the price of a laptop in Canada if there are no imports allowed? (1 point) (D) If there is free trade i.e. laptops can can be imported without any tariffs: (i) Draw a domestic demand and supply curve of laptops in Canada. (1 points) (ii) Draw an export supply and import demand curve of laptops in the world market. (1 points) (iii) What is the equilibrium price of laptops in the Canada market? (1 point) (iv) What are the quantities consumed, produced. and imported in the Canada market? (2 point) (v) What are the resulting consumer and producer surplus in Canada? (1 point) (c) If Canada imposes a tariff t on each laptop imported. Show the effect of the tariff on the diagrams drawn. (1 point) (d) If t: it, there will be still positive international trade. If tbzx, Canada market will clear at autarky. What is value of x? (1 point)