Exhibit 33-8 ​

question 25

Multiple Choice

Exhibit 33-8
​

-Refer to Exhibit 33-8. Assume that the current price of sugar in the United States is $300 per ton (which includes a $100 per ton tariff on sugar imports) . The removal of the $100 per ton tariff would increase consumers' surplus by an amount equal to area

• A)C.
• B)C + G.
• C)D + E + F.
• D)C + D + E + F + G + H.
• E)none of the above

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Definitions:

Product Improvement

The process of making meaningful changes to a product to increase its usability, functionality or performance.

Production-oriented

describes an approach focused on the efficiency of producing goods, often at the expense of customer needs and preferences.

Sales-oriented

Focused primarily on achieving sales targets, often through aggressive marketing and promotional strategies, without necessarily prioritizing customer needs.

Market-oriented

A business approach that prioritizes the needs and wants of customers in the creation and selling of products or services.