Problem
Sugar Import Ban. Suppose that initially there are no controls on sugar imported into the United States, so the price paid in the United States equals the prevailing world price.
a. If the world price is 13 cents per pound, what areas of the world supply sugar to the world market and the United States?
b. Suppose the United States bans sugar imports. The new price of sugar will be at least $_________.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.