Question 2 The table below depicts the United States’ market…

Question 2 The table below depicts the United States’ market demand and supply for insulin.  PRICE QUANTITY OF INSULIN DEMANDED QUANTITY OF INSULIN SUPPLIED $0.20 80,000 doses 50,000 doses $0.40 75,000 doses 55,000 doses $0.60 70,000 doses 60,000 doses $0.80 65,000 doses 65,000 doses $1.00 60,000 doses 70,000 doses Part (i): Refer to the table above. Suppose that the world price of insulin is $0.40 per dose. How many doses of insulin with the United States produce? How many units will be consumed domestically? Part (ii): Refer to the table above. Suppose that the world price of insulin is $0.40 per dose. Will the United States import or export insulin? How many units? Part (iii): Refer to the table above. Suppose that the world price of insulin is $0.40 per dose, and the government imposes a $0.20 tariff per dose. How many doses of insulin with the United States produce? How many units will be consumed domestically? Part (iv): Refer to the table above. Suppose that the world price of insulin is $0.40 per dose, and the government imposes a $0.20 tariff per dose. Will the United States import or export insulin? How many units?