In Small Republic the domestic price of almonds is $4 per kg. Small Republic is now a closed country but is considering opening to international trade. (a) If the world price for almonds is $5 per kg., will Small Republic import or export almonds? Why? Draw a graph for the market of almonds in Small Republic showing the domestic demand and domestic supply, the world price, and label the amount of exports/imports. (b) If Small Republic allows international trade, who will gain, who will lose and how does total welfare change in Small Republic? In your graph, label the relevant areas and explain which areas correspond to the change in consumer surplus, change in producer surplus and change in total surplus that result from allowing international trade. (c) Name one common argument used against international trade and explain what is the weakness in that argument.