Suppose a Small Island Nation Imports Sugar for Its Population

question 55

Multiple Choice

Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below. If the government provides a subsidy of $500 per ton, then producer surplus will be ________ per day.

• A)$0
• B)$1,000
• C)$4,000
• D)$8,000

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