Hi. I am having a problem finding the values of Q1 and Q2 with Quota, Not tariff on an article. I have to find Us price of sugar on the market and also the price of sugar on the world... (It's microeconomic 201)

My question is : How I can calculate the pounds of sugars that are imported and also how i can calculate the revenue on sales for foreign countries? With the information given ...

Assignments X C Read The Attached Art X Quiz: Project #3 X sugar quota (2).pdf X force measuee - Bing x StudyMicrounit3.docx X M LISA WOLFE (ECON&2 X + -> C O File | /Users/angelimbrenda/Downloads/sugar%20quota%20(2).pdf BACKGROUNDER | NO. 2914 JUNE 5, 2014 treatment that this relatively small interest group The sponsors of the 1920 Sugar Act, Senator receives from the government drives up the price of Edward Costigan (D-CO) and Representative Mar- sugar, jeopardizes export growth, and weakens the vin Jones (D-TX), each represented sugar-produc- U.S. economy. ing regions, and Jones was eventually recognized by In fiscal year (FY) 2013, Americans consumed 12 the sugar industry as "Sugar Man of the Year." The million tons of refined sugar, with the average price 1920 Jones-Costigan Sugar Act's restrictions on for raw sugar 6 cents per pound higher than the sugar imports were supposed to be temporary, but average world price. That means, based on 24 billion except for a brief break during World War II, they pounds of refined sugar use at a 6-cents-per-pound have unfailingly been modified and extended. U.S. U.S. premium, Americans paid an unnecessary $1.4 sugar producers have benefited from 80 years of billion extra for sugar. That is equivalent to more temporary protection. than $310,000 per sugar farm in the United States.? American sugar producers allege that Mexican How the Sugar Program Raises Prices sugar producers are selling sugar to U.S. consumers Americans pay a big surcharge for sugar because at unfair prices, but the opposite is true: U.S. sugar the federal government guarantees a minimum producers are the ones selling sugar at unfair prices price for sugar. To maintain this minimum price, to American consumers. the government restricts low-priced imports by establishing a quota that limits the amount of sugar 80 Years of "Temporary" Protection Americans can import at relatively low tariff rates. The U.S. sugar program is a relic of the Great Any imports above this quota are subject to prohibi Depression. According to a 1958 description of the tively high tariffs. Based on 2013 world sugar prices, program's origins: "The government intervened on behalf of domestic sugar growers with the Jones- the average above-quota tariff rate was 88 percent for raw sugar and 73 percent for refined sugar. Costigan Act in 1934. This act enabled the govern- Since the turn of the millennium, Americans have ment of the United States to do to American consum- paid an average of 79 percent more for raw sugar and ers what German U-Boats had threatened during 87 percent more for refined sugar compared to the the war: cut off or cut down on imports of sugar."3 In average world price. Although the gap between U.S. 1929, the legendary Will Rogers proclaimed of sugar- and world sugar prices has narrowed some in recent tariff proponent Senator Reed Smoot: "Lot's wife (or years, U.S. consumers still pay a significant premium. somebody in the Bible) turned around to look back In April, the price of raw sugar in the United States and turned into salt. If Reed ever glances back we was 43 percent higher than the average world price. are going to have a human sugar bowl on our hands." The price of refined sugar was 39 percent higher in 1. U.S. Census Bureau, "2007 Census of Agriculture," Summary and State Data, Vol. 1, Part 51, pp. 7-8, http://www.agcensus.usda.gov/Publications/2007/Full_Report/Volume_1,_Chapter_1_US/usv1.pdf (accessed April 23, 2014)