Question 1. Figure 1 shows the domestic demand and supply schedules for toasters in Chile, which should be considered a "small" nation that is unable to affect the world price of toasters. Quantities are in thousands. In addition to this information, you are told that the world price of toasters is $9. Figure 1: Import Tariff Impossed by a "Small" Country Schile Price D chile 10 20 30 40 50 60 70 80 90 100 Thousands of toasters per year Since quantities are in thousands, the answers to the following questions will be in thousands. If the answer is 20,000 enter 20 as your answer. If the answer is $120,000, enter 120.In the absence of trade: (a) How many toasters does Chile produce and consume? (b) Calculate Chile's producer surplus. (c) Calculate Chile's consumer surplus. With free trade: (d) How many toasters does Chile import? (e) What is the value of Chile's imports? (f) Calculate Chile's producer surplus. (g) Calculate Chile's consumer surplus. Now assume there is a per-unit tariff of $2. (h) What is the quantity of imports? (i) What is the loss in Chilean consumer surplus due to the tariff? (j) How much tariff revenue does the Chilean government collect? (k) How much producer surplus do Chilean manufacturers gain because of the tariff? (1) Calculate the deadweight cost of the tariff. (m) How high would the tariff have to be set to eliminate all imports