Refer to the In the News below:
ATTACHMENT IS GIVEN BELOW
Instructions: Round your response to two decimal places.
a. How much more are U.S. consumers paying for the 12 billion tons of sugar they consume each year as a result of the quotas on sugar imports?
$ ______ more per pound of sugar
b. How much sales revenue are foreign sugar producers losing as a result of those same quotas?
a) Quantity of decreased sales multiplied by the price of sugar
b) Quantity of decreased sales adding the price of sugar
c) Quantity of decreased sales subtracting the price of sugar
d) Quantity of decreased sales divided by the price of sugar
