Part II. {151] points} Please show your work clearly. Q1. [3i] points} Demand is given by the equation QD= l-P; supply is given by Qs= 4P a. {ll} points] Suppose the world price of each unit is $25. Now assume that this economy is open to world trade. How many units will they import or export? Calculate the consumer surplus, producer surplus and total surplus. h. {ll} points] Continue to assume that this economy is open to world trade. Suppose the government enacts a tariff off $2 perpound of cocoa beans. Calculate the consumer surplus, producer surplus, total surplus and deadweight loss with the tariff. What is the total revenue of the tariff?r c. {ll} points] IContinue to assume that this economy is open to world trade. Suppose the goyemment imposes quotas of $3 perpound on the cocoa beans market. Calculate the consumer surplus, producer surplus, total surplus and deadweight loss with the quotas. Does government gain the total revenue