please use the attachment to answer all of the questions. please bold answers.

Only one rm produces and sells soccer balls in the country of Wiknam, and as the story begins, international trade in soccer balls is prohibited. The following equations describe the monopolist's demand, marginal revenue, total cost, and marginal cost: Demand: P = 15 Q Marginal Revenue: MR = 15 29 Total Cost: TC = 3 + Q + 0.592 Marginal Cost: MC = 3 + Q where Q is quantity and P is the price measured in Wiknamian dollars. The monopolist produces soccer balls and sells them at a price of $ each. The monopolist's prot is $ in this case. One day, the King of Wiknam decrees that henceforth there will be free tradeeither imports or exportsof soccer balls at the world price of $10. The rm is now a price taker in a competitive market. fall I fall I The domestic production of soccer balls will rise V to soccer balls, and domestic consumption will rise V to soccer balls. Import Therefore, Wiknam will export "V soccer balls in this case. In the analysis of international trade in Chapter 9, a country becomes an exporter when the price without trade is below the world price and an importer when the price without trade is above the world price. lower / exporter / In this case, the price without trade is hi her '7 than the world price, and the country is an importer 'I' . This is because the claim made in monopolistic] Chapter 9 assumed the domestic market was competitive V . Suppose that the world price was not $10 but, instead, happened to be exactly the same as the domestic, monopolistic price without trade. exporting . . . . ne'ther exporting nor importing Allowmg trade In this case would result In the country I v soccer balls. importing