1. Developed countries agreed to eliminate farm export subsidies. (I exaggerated what actually happened.) Developed countries are net exporters of farm products. As a group, developed countries comprise a large economy. Use appropriate diagrams and an explanation to show the economic welfare effects (i.e., changes in consumer surplus and producer surplus) of this reduction in farm export subsidies on:

(a) developed countries (use one graph to represent them).

(b) a small developing country which is a net importer of farm products. The small country practices free trade.

(c) a small developing country which is a net exporter of farm products. The small country practices free trade