In this exercise, we examine a vegetable ber traded in a competitive world market and imported into the United States at a world price of $9 per pound. U.S. domestic supply and demand for various price levels are shown in the following table. Price U. S. Supply U. 5. Demand (million pounds) (million3 pounds) Answer the following questions about the U.S. market: 1. Conrm that the demand curve is given by Q9 - d0 -2P and that the supplyr curve is given by Q: - 213 P. [1 point] 2. Draw the demand and supply curves in the same graphic with prices on the vertical axis. [0.5 paint] 3. Conrm that ifthere were no restrictions on trade. the United States would import 16 million pounds. [0.5 point] 4. lfthe United States imposes a tariff of $3 per pound: a. What will be the U.S. price and level of imports? [0.5 point] I]. How much revenue will the government earn from the tari'? [0.5 point] c. How large is the deadweight loss? [0.5 point] 5. lfthe United States has no tariFf but imposes an import quota of 8 million pounds: a. What will be the U.S. domestic price? [0.5 point] b. What is the cost of this quota for U.S. consumers of the ber? [0.5 point] c. What is the gain for U.S. producers? [0.5 point]