Illustrate the cheese market for the united states


Illustrate the cheese market for the United States showing the world price as the price for this market. Discuss how much cheese does the U.S. import at the world price? Now assume that the cheese lobby promotes and successfully gains a tariff on cheese. Explain what happens to the price paid by cheese lovers in the U.S.? How does this change the value generated by the market? Why do you say this? Where does this appear in your graph?

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Macroeconomics: Illustrate the cheese market for the united states
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