Trade restrictions raised the price of sugar by 257 cents, Ask an Expert

Economics

Trade restrictions raised the price of sugar by 2.57 cents. Without the restrictions, U.S. consumers would have purchased 23.3 billion pounds of sugar; with them, they purchased 22.4 billion pounds. How much of a loss do they impose on U.S. consumers in dollar amount? (calculate the size of reduction in consumer's surplus)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91563163

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