l. The nation of Acirerna is \"small\" and unable to affect world prices. It imports peanuts at the price of $ 10 per bag. The demand curve is: D = 400 lDP+ The supply curve is: S = 50 + SR Determine the free trade equilibrium. Then calculate and graph the following effects of an import quota that limits imports to 50 bags. :1. The increase in the domestic price. in. The quote rents. c. The consumption distortion loss. d. The production distortion loss. 2. The graph below shows the domestic demand and domestic supply function for wheat in USA. The world price of wheat is 100$ and USA is a small country. Price Sup Dema 20 40 60 80 100 Quantity Suppose USA imposes an export subsidy of $20 per unit exported (and simultaneously bans all imports of wheat to avoid arbitrage). i. Calculate the new price consumers pay and the price producers receive in USA. ii. Calculate the change in producer surplus, consumer surplus and government subsidy expenditure. (Compared to no intervention) Change in PS= Change in CS= Government subsidy expenditure= ili. How big is the DWL