Figure $9$

The following diagram shows the domestic demand and supply curves in a market. Assume that the world price in this market is $$15$ per unit.

Refer to Figure $9.$

Assume that the world price in this market is $$15$ per unit.

a$.$ If the country showed in the market above allows free trade, will they be an importer or exporter? How many units will be imported or exported?

b$.$ If the country showed in the market above allows free trade, calculate the value of consumer surplus, producer surplus, tax revenues, total surplus, and deadweight loss $($if it exists$).$ Be sure to clearly label and state the value for each. For partial credit, provide your equations.

Suppose the country imposes a $$5$ per unit tariff.

c$.$ With trade and the tariff, will the country be an importer or exporter? How many units will be imported or exported?

d$.$ With trade and the tariff, calculate the value of consumer surplus, producer surplus, tax revenues, total surplus, and deadweight loss $($if it exists$).$ Be sure to clearly label and state the value for each. For partial credit, provide your equations.