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Watch this reason.com video on sugar: https://reason.com/reasontv/2017/10/30/sugar-subsidies-halloween 1. What is the world price of sugar (as stated in the video)? What is the domestic price
Watch this reason.com video on sugar: https://reason.com/reasontv/2017/10/30/sugar-subsidies-halloween 1. What is the world price of sugar (as stated in the video)? What is the domestic price of sugar (per the video)? Based on these prices, should the US import or export sugar? 2. In order to make US sugar producers competitive, what does the US government do (think about subsidies, quotas, tariffs, etc.)? 3. Explain the impact of this government policy on total welfare using consumer, producer, and total surplus. | |
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