Consider a small country that exports steel. Suppose the following graph depicts the domestic demand and supply for steel in this country. One of the two price lines represents the world price of steel. Use the following graph to help you answer the questions below. You will not be graded on any changes made to this graph. Supply 100 Demand 90 Triangle 80 70 Polygon 60 50 Price of Steel (Dollars per ton) P 1 40 30 20 10 0 0 100 200 300 400 500 600 700 800 900 1000 Quantity of Steel (Tons)Because this country exports steel, the world price is represented by V . per ton, and the price received by domestic producers is per ton. The quantity of steel consumed by domestic consumers V , the quantity of steel produced by domestic producers With this export subsidy, the price paid by domestic consumers is $ T , and the quantity of steel expo '7 True or False: With the export subsidy, domestic producers remains unchanged c consumers and sell the rest abroad. 0 True decreases 0 False With this export subsidy, the price paid by domestic consumers is- per ton, and the price received by domestic producers is per ton. The quantity of steel consumed by domestic consumers V , the quantity of steel produced by domestic producers V , and the quantity of steel exported V . remains unchanged export subsidy, domestic producers will sell steel to domestic consumers and sell the rest abroad. decreases With this export subsidy, the price paid by domestic consumers is $ per ton, and the price received by domestic producers is $ per ton. The quantity of steel consumed by domestic consumers , the quantity of steel produced by domestic producers , and the quantity of steel exported True or False: With the export subsidy, domestic producers will s remains unchanged onsumers and sell the rest abroad. increases O True decreases O FalseTrue or False: With the export subsidy, domestic producers will sell steel to domestic consumers and sell the rest abroad. 0 True 0 False V H u: M 0 False Under the export subsidy, consumer surplus is and producer surplus is . Government revenue V by . As a result, total surplus V . True increases O False remains unchanged decreases Under the export subsidy, consumer surplus d producer surplus is $ Government revenue by $ . As a result, total surplus