Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am having a trouble with my microeconomic 201 project about tariff and quota with an article. I would like to know if somebody can

I am having a trouble with my microeconomic 201 project about tariff and quota with an article. I would like to know if somebody can help me with this.

Read the attached article regarding the U.S. sugar market-->>sugar quota.pdf (I can't attach the pdf file but I can send screenshots. )

Actions

Conduct a market analysis forthe U.S. refined sugar market for the 2013 year.Please treat this import as aquota(not atariff).Be careful to use information for the 2013 YEARnot specific months. Only analyze refined sugar, not raw sugar.

Your instructor has highlighted a few sections of the article that should not go unnoticed.

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).Quantity is in pounds.
  • 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. Remember, this is a quota, not a tariff.

I NEED TO KNOW HOW TO FIND THE Q1 AND THE Q2 SO I CAN CALCULATE THE POUNDS OF SUGAR ARE IMPORTED AND THE REVENUE FOR FOREIGN PRODUCERS!!!!

file:///Users/angelimbrenda/Downloads/sugar%20quota%20(2).pdf

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics A Problem-Solving Approach

Authors: Luke M. Froeb, Brain T. Mccann

2nd Edition

B00BTM8FK0

More Books

Students also viewed these Economics questions