Derive the relative demand curve relating the relative demand for Wallet to the relative price of Wallet. Do this algebraically, and then show what the curve looks like in a diagram (put the relative price of Wallet on the vertical axis and the relative quantity of Wallet on the horizontal axis). (2 marks)(b) DerivetheworldrelativesupplycurveofWallet. (2marks)(c) Put in the same figure the relative demand curve for Wallet that you found in part (a) and the world relative supply curve of Wallet that you found in part (b). Determine the equilibrium relative price of Wallet and the equilibrium relative quantity of Wallet under free trade. (2 marks)(d) Under free trade, which country produces which good(s)? How many units? (2 marks)(e) Who gains from trade? Who loses from trade? State labours stance towards free trade in each country.