Suppose that Singapore is a small open economy; hence, Singapore is unable to influence world price. The supply and demand schedules for TV set are depicted in Table A. Additionally, the equilibrium price and quantity for Singapore's market for TV sets is $25 and 7.5, respectively.

Table A: Supply and Demand: TV Sets (Singapore's)

Price of TV Quantity Supply Quantity Demanded

0 0 15

10 3 12

30 9 9

40 12 3

50 15 0

(a) Given this information, calculate the value of Singaporean consumer surplus and producer surplus.

(b) Under free-trade conditions, assume Singapore imports TV sets at a price of $10 each.

(i) How many TV sets will be produced, consumed, and imported?

(ii) Calculate the dollar value of Singapore consumer surplus and producer surplus?

(c) Suppose that free trade is hurting the domestic producers in Singapore. To protect its producers from foreign competition, the Singaporean government levies a specific tariff of $10 on imported TV sets.

(i) Calculate the amount of deadweight welfare imposed on the Singaporean economy by the specific tariff.

(ii) Compute the value of the tariff's consumption, protective, redistributive, and revenue effects.