Question 3 (25 points) In Brazil, the domestic supply function of wheat is given by QS = P + 5 and the domestic demand for wheat is QD = 30 2P. a. What is the equilibrium price and quantity of wheat if there is no trade? [2 points] b. Suppose the government institutes a tax oft = $2 per unit of wheat sold. What is the equilibrium quantity of wheat sold after the tax is imposed? What price do consumers pay? What price do suppliers receive? [10 points] 0. How much revenue does the tax raise? What is the deadweight loss of the tax? [3 points] d. Brazil decides to eliminate the tax and openup its wheat markets to imports. The world price for wheat is $5 per bushel. If there is perfectly free trade, how much wheat will be consumed? How much of it will be produced domestically and how much will be imported