Question 2 Below, you are provided with the domestic demand and supply curves for strawberries. Use this diagram to answer all parts of this question. 30 il i 20 150 180 210 Quantity of Strawbemies [n thousands of pounds) Part (i): Suppose that the world price of a pound of strawberries is $7 (i.e., that American sellers can sell an unlimited number of strawberries for $7 per pound, and that American consumers can purchase an unlimited number of strawberries for 57 per pound). How many pounds of strawberries will American consumers purchase? Part {ii): Suppose that the world price of a pound of strawberries is 7. How many pounds of strawberries will American sellers sell? How many pounds of strawberries will the United States import? Part (iii): Suppose that the world price of a pound of strawberries is 45 (i.e., that American sellers can sell an unlimited number of strawberries for $5 per pound, and that American consumers can purchase an unlimited number of strawberries for $5 per pound). How many pounds of strawberries will American consumers purchase? Part (iv): Suppose that the world price of a pound of strawberries is $5. How many pounds of strawberries will American sellers sell? How many pounds of strawberries will the United States import? Part (v): If a country currently imports a good or service, and the world price of that good or service falls, what is the effect on: 1) domestic production, 2} domestic consumption, and 3) the quantity of exports