In mid-2015, the world price for raw sugar, 12 per pound, was about half of the U.S.
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In mid-2015, the world price for raw sugar, 12¢ per pound, was about half of the U.S. price, 25¢ per pound, because of quotas and tariffs on sugar imports. As a consequence, American-made corn sweeteners can be profitably sold domestically. Use graphs to show the effects of a quota on sugar on prices and quantities in both the sugar and corn sweetener markets.
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Managerial Economics and Strategy
ISBN: 978-0134167879
2nd edition
Authors: Jeffrey M. Perloff, James A. Brander
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