Suppose that Supply is given by: Q5 2 p + 10 And Demand is given by: Do 2 100 0.5p Given this, answer the following three questions: a) What is the free market price and quantity in equilibrium (p* and {31*}? (4 points} b) If the local government imposes a 30dollar tax on producers, what will be the seller's incidence? {in dollars - in other words, how much (in dollars) of this (BUdollar tax will the seller actually.r pay?) {8 points) c) Suppose instead that the government imposes a SUIdollar subsidy instead of a tax. (i) What quantity of the good will be sold in this case? and {ii} what is the Deadweight Loss generated by this subsidy? (8 points} Suppose that Supply is given by: 05 = p 10 And Demand is given by: Gd 2 170 2p This will be a question about international trade. So suppose as well that the world mice is equal to 40-dollars. Given this, answer the following four questions: a) What is the market price and quantity under autarky (p* and 0*}? (4 points] b) If the country opens up to international trade, will they become importers or exporters, and what quantity will they end up importing or exporting? (4 points) c) Suppose that the government imposes a $10 tan'ff. What is the increase in producer surplus resulting from this tariff? (8 points} d) Suppose instead that the government imposes a $30 tariff. How much revenue will this tariff generate? (4 points)