The country "X" produces household products and allows free trade, opening the householdproducts market to free international trade. In the equilibrium without trade, the domestic priceof household products is $350, while the world price of household products is $300. Now,because of technological progress, the world price of household products falls by $140.Instructions: Illustrate in a graph the situation just described for household products market incountry "X". Your graph should show all the numbers: give sample numbers toquantities. Analyze the welfare effects of free trade (e.g., calculate and show on the graph thechange in consumer surplus, the change in producer surplus and the change in total surplus from the world price reduction).Explain thoroughly with graph words