For a particular product, Country A's supply and demand are represented by the following functions: Qs = 0 + P; Qd = 52 - P. Suppose Country A is a small country (it takes the world price as given) and the free-trade world price is $10.

Numerical answers are required for the questions. (12 points; 3 points each)

(1) If the government of Country A imposes a 100% tariff on the imports, how much does Country A import?

Your answer:

(2) Moving from free trade to the 100% tariff, by how much does the consumer's surplus change? (Positive number means a gain; a negative number means a loss)

Your answer: $

(3) Moving from free trade to the 100% tariff, by how much does the producer's surplus change? (Positive number means a gain; a negative number means a loss)

Your answer: $

(4) Moving from free trade to the 100% tariff, what is the deadweight loss for Country A caused by the tariff?

Your answer: $