Please provide detailed explanation

5. (20 points) Brandtlandia is a small closed economy. The demand and supply for tulip bulbs is given in the following table where P is the price in dollars \\$ and Q is the quantity of tulip bulbs. Price > SO $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 Quantity demanded 200 190 180 170 160 150 140 130 120 110 100 Quantity supplied 10 20 30 40 50 60 70 80 90 100 110 Currently, the international price for a tulip bulb is \\$40. Brandtlandia is considering opening its economy to trade, and the government is considering three possibly policies. Policy 1: Open the economy to trade with no trade protection. Policy 2: Open the economy to trade but impose a tariff on the import of tulip bulbs that would set the price of tulip bulbs to \\$80. Policy 3: Open the economy to trade but limit imports to a quota of 50 tulip bulbs. a. (5 points) Under policy 1, how much is demanded? How much is supplied by domestic firms? How much is imported? Show graphically, make sure to label the axes and the lines. b. (5 points) What is the effect of imposing a tariff of \\$40 on a tulip bulb (policy option 2)? Show graphically (make sure to label axes and lines). Compared to policy 1, who wins? Who loses? c. (5 points) How are domestic consumption and production affected by policy 3? Explain in words and show graphically. d. (5 points) Graphically, what is the tariff that would have the same effect on prices as the quota in part C? Are there any differences in the effects of the tariff and quota on consumers, firms and the government? Explain