Price/Cost/Revenue BEDAZZLED TIRE SWINGS 45 Supply (U.S.) 40 35 A 30 25 B C 20 World Price plus Tariff D F IG 15 World Price H 10 Demand (U.S.) 5 100 200 300 400 500 600 700 800 900 1000 1100 1200 Quantity Assume Autarky (closed economy with no trade) for the following question: 1) Calculate total economic surplus represented in the graph above. (2 points) Assume Free Trade (no trade restrictions) for the following questions: 2) calculate total economic surplus represented in the graph above. (3 points) 3) How much has consumer surplus increased, as a result of free trade? (3points) Assume a $5 per unit tariff is imposed on the importation of Bedazzled Tire Swings: 1) Calculate the dead weight loss that results from the tariff. (2 points) 2) Calculate the amount of revenue raised from the tariff. (2 points)