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can you please answer these and show how you got each? PRICE Domestic Supply $2 Domestic Demand 10 14 MILLIONS OF POUNDS Assume $2 is

can you please answer these and show how you got each?

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PRICE Domestic Supply $2 Domestic Demand 10 14 MILLIONS OF POUNDS Assume $2 is the world price and $5 is the domestic equilibrium price. Calculate: a. Consumer surplus at i. Domestic equilibrium (no trade) ii. The world price (free trade) iii. Trade with a $2 tariff iv. Trade with a $3 tariff b. Domestic producer surplus at i. Domestic equilibrium (no trade) ii. The world price (free trade) iii. Trade with a $2 tariff iv. Trade with a $3 tariff c. CS + PS at each of those levels

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