Question 2: Suppose Qd= 100- 10P Qs = 10P a. Draw a graph using the supply and demand equation assuming no trade. Calculateequilibrium P, Q, consumer, producer and total surplus.   b. Draw another graph assuming that trade is allowed. Calculate quantity domesticallyconsumed, domestically produced, imports, consumer surplus, producer surplus assumingworld price =$3.   c. What happens to consumer surplus and producer surplus after trade? Does total surplusincrease or decrease after trade? Show your calculations.

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