Thank you 4 Explain the role of prices in a market economy 5

Thank you

4) Explain the role of prices in a market economy. 5) Currently, the U.S. places high tariffs (import taxes) on foreign sugar. This makes foreign sugar artificially expensive and keeps it out of the U.S. market. lt also makes sugar more expensive in the U.S. than it is in much of the rest of the world. While that helps U.S. sugar producers, it\'s not so great for U.S. sugar consumers. The U.S. is considering abolishing these tariffs. a. Show the effect of removing these tariffs on the market for sugar produced in the U.S. b. Show the effect of removing these tariffs on the overall U.S. market for sugar. c. Show the effect of removing these tariffs on the market for candy bars produced in the U.S

Solution

Answer (A)

Answer-(B)

Answer (C)