Suppose the demand for lumber is estimated as Q^D= 90 - 0.05P and the supply is estimated as Q^S= 0.04P.

i. Calculate and graph the domestic equilibrium.

ii. Now assume the country is small and engages in free trade. Also, assume the world price is $300. Calculate the amount of imports under free trade.

iii. Now assume that the government imposes a $100 tariff on imports. Calculate the new amount of imports.

iv. Calculate the deadweight loss from tariff, show on your graph.