P ($) NUEGGNOG8N 0 8 10 12 14 16 18 20 22 24 9 11 13 15 17 19 21 23 ( K ) 6. The figure above represents the market for T-shirts in Country K, a small country. Assume that there is free trade with the rest of the world (ROW). The world price of a T-shirt is $18. (K stands for thousands.) a. Draw the supply and demand diagram for Country K's domestic market with trade. Label the relevant prices and quantities, e.g., the domestic price, domestic production, and domestic consumption. b. Draw a supply and demand diagram for the international market. Label the relevant prices and quantities, including the P-intercepts. C. Do T-shirt producers in Country K favor free trade in T-shirts or would they prefer autarky? Briefly explain. d. What is Country K's net gain or loss from trade? Give a $ value. What is the ROW's net gain or loss from trade? Give a $ value