Exhibit 33-8

-Refer to Exhibit 33-8. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports). Americans purchase __________ million tons of sugar from U.S. producers and import __________ million tons of sugar from abroad.

Question

Exhibit 33-8
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-Refer to Exhibit 33-8. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports). Americans purchase __________ million tons of sugar from U.S. producers and import __________ million tons of sugar from abroad.

Quizplus · Accepted Answer

The question implies that the total amount of sugar consumed is 15 million tons (10 million from U.S. producers and 5 million imported), given the price includes a tariff.

Exhibit 33-8 ​

Exhibit 33-8