QUESTION 1 [20 MARKS] South Africa is unable to affect the world price of the wine market. It imports wine at a price of $20 per box: The domestic demand for wine is given by the function Q? =700-10? The domestic supply for wine is also given by the function Q?=2005? The government imposes a quota that limits imports to 50 boxes. Calculate and graph the following 1.1. The increase in price (above the world trade price) as a result of the quota. (6) 1.2. The consumption distortion loss (deadweight) as a result of the quota (4) 1.3. The production distortion loss (deadweight) as a result of the quota. (4) QUESTION 2 [20 Marks] The year 2018 marked the beginning of an African packed to initiate a free trade zone in Africa, the biggest in the world known as the African Continental Free Trade Area (AfCFTA). The free trade agreement has since been The UN declares that the economic bloc currently have a combined business and consumer spending of $4 trillion. In the perspective of the great pan-Africanist, Dr. Kwame Nkrumah, "It is clear that we must find an African solution to Africa's problems, and that this can only be found in African unity. 2.1. Discuss how AfCFTA could be trade creating free trade area (1 page)