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Part 2: Trade For this assignment, consider the domestic market for soybeans, graphed below: Price {Slbushell 30 Domestic SUPP\" World Price 10 Domestic Demand zoo coo goo quantity {millions of bushels] 3. Without any trade (i.e., with domestic economic activity only), what are the MEIMEI amounts of Consumer Surplus and Producer Surplus? 4. Once the United States opens up to trade, will the US. export or import soybeans? What is the Quantity of exports or imports? Assume that no trade restrictions are present. 5. With trade, what is the actual dollar amount of Consumer Surplus and Producer Surplus? 6. What is the actual dollar amount of the gains from trade? Hint: Compare total surplus before and aer the United States starts trading. 7. Based on your analysis, who are the winners and who are the losers in the United States 'om trade in soybeans? Is the United States better off as a whole? Why? Explain your answer fully using concepts we discussed in class