Homework international business

Total Price of TVs Quantity Quantity In US $ demanded Supplied 600 0 60 500 10 50 400 20 40 300 30 30 200 40 20 100 50 10 60 0 Based on the provided figures in the above table A] Under no international trade (domestic free market) 1) Determine the equilibrium price and quantity of TV. (This is in a closed economy) 2) calculate the amount of consumer and producer surplus B) Under an open economy: 1) determine the producer and consumer surplus when price of TV is reduced by $200 from the original equilibrium to a new equilibrium due to free trade with the outside world 2) determine the number of imported TV sets 3) what is the size of domestic TV products? C) Under tariff regime when the government applies a tariff of $100 on each imported TV 1) determine the consumption and protective effect 2) the total amount of revenue the government collects 3) determine the size of domestic and imported products 4) Summarize in one paragraph how the three scenarios affect the consumers, producers, government, and the overall economy. After going over the above calculation, do you think trade barrier will benefit the country in applying such measure? Discuss