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Hi, can someone help me with this please. The United States sugar industry has enjoyed trade protection for several years. As a result, sugar prices

Hi, can someone help me with this please.

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The United States sugar industry has enjoyed trade protection for several years. As a result, sugar prices in the U.S. are higher than the average world price. Suppose that the domestic demand and domestic supply for sugar are as provided in the table below (assume continuous, linear domestic demand and supply curves which include the following data points for sugar): r A. Suppose the world price for sugar is $0.06 per pound. If the US. opens itself up to trade, will the U.S. become an importer or exporter of sugar? How many units will the U.S. import or export? (must provide the correct answers for full credit, no additional work is necessary) B. Relative to a no-trade scenario. does total net benets to society increase or decrease in this market when the U.S. opens itself up to trade? By how much? (must provide the correct answers for full credit, no additional work is necessary) C. Now suppose that the U.S. government imposes a $0.06 per pound tariff on imported sugar. What happens to imports of sugar as a result of the tariff? (will they increase or decrease? By how much?) How much tariff revenue will the tariff provide for the US. government? (must provide the correct answers for full credit, no additional work is necessary) D. Does imposing a tariff on sugar result in a deadweight loss in this market? If so. calculate the size of the deadweight loss. (must provide the correct answers for full credit, no additional work is necessary) If not, why not

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