Read the following facts and answer the questions below: Country A, B, C & D are all members of the WTO Country A & Country B make an agreement: Country A agrees to lower its tariff on beef to 6% and Country B agrees to lower its tariff on dairy to 8%. Country C and Country D make an agreement: Country C agrees to lower its tariff on beef to 4% and Country D agrees to lower its tariff on dairy to 3%. a) A farmer in Country A wants to sell her dairy in Country D. What tariff will be applied to her dairy? Why? (3) F21-002 Work independently. No shared answers. b) Entrepreneurs in countries A, B and C decide to sell dairy in Country D. Country D's dairy market becomes overwhelmed, lowering the prices further and making dairy prices unsustainably low in Country D. What issue is being described? Name and explain what can Country D do to assist the domestic dairy industry? Explain and describe the criteria and limitations of this action. (6) c) Country C watched what happened to Country D's dairy industry. To prevent something similar from happening to their beef industry, Country C raises its beef tariff 2% to match Countries A at 6%. Is this a good idea? Why or why not? (4) d) You raise cattle in Country B and want to sell the beef in Country C. Country C just raised their tariff from 4% to 6%. What, if any, are your options?