1. For the refined sugar market: Graph U.S. Demand. Graph U.S. Supply. Show world price and U.S. price on graph (show dollar values). Show quantity supplied by U.S. firms and U.S. sugar consumption on graph (show values). Figure how many pounds of sugar are imported. This will be a value. Show it on the graph Shade the area(s) of dead-weight loss on the graph (no value needed). Mark the area which is the revenue for foreign sugar producersfigure the dollar value and note it on the graph. 2. According to the article, consumers of refined sugar are not the only ones negatively affected by the sugar quota. In what other ways is the market affected? In scal year (FY) 2013, Americans consumed 12 million tons of rened sugar, with the average price for raw sugar 6 cents per pound higher than the average world price. That means, based on 24 billion pounds of rened sugar use at a 6-cents-per-pound U.S. premium, Americans paid an unnecessary $1.4 billion extra for sugar. Americans pay a big surcharge for sugar because the federal government guarantees a minimum price for sugar. To maintain this minimum price, the government restricts low-priced imports by establishing a quota that limits the amount of sugar Americans can import at relatively low tariff rates. For FY 2013, U.S. sugar beet and sugarcane producers supplied 21.8 billion pounds of rened sugar to the U.S. market at an average wholesale price of 28.84 cents per pound, or $1.3 billion more than if U.S. sugar buyers had been allowed to pay the average global price of 22.84 cents per pound.8