The table below illustrates the demand and supply schedules of autos in Malaysia, a "small" nation that cannot affect world prices. Using graph paper, sketch Malaysia's demand and supply schedules for autos.

TABLE: MALAYSIA SUPPLY AND DEMAND FOR AUTOS

Price per auto	Quantity Demanded	Quantity Supplied
$	6000 7000 8000 9000 10000 11000	2,000 1,600 1,200 800 400 0	0 400 800 1,200 1,600 2,000

Required:

(i) What are Malaysia's equilibrium price and quantity for autos?

(ii) Calculate the value of Malaysia's consumer surplus and producer surplus.

Suppose Malaysia imports autos for $7000 each.

Required:

(iii) How many autos does Malaysia produce, consume, and import under free trade?

(iv) Calculate Malaysia's consumer surplus and producer surplus.

To protect its domestic producers, suppose the Malaysian government imposes a quota limiting imports to 800 autos.

Required:

(v) Determine the quota-induced price.

(vi) Determine the number of autos produced and demanded domestically.

(vii) Calculate the consumer surplus as a result of a quota.

(viii) Calculate the quota's redistributive, consumption, protective effects and windfall profit if the Malaysian government sells import licenses to its retailers.

Suppose that foreign exporters organise as monopoly sellers and the Malaysian companies (importers) behave as competitive buyers.

Required:

(ix) What is the overall welfare loss to Malaysia due to a quota?