The United States is the fifth largest sugar consumer and the fifth largest sugar producer in the world. The U.S. sugar industry has enjoyed trade protection since 1789 when Congress enacted the first...

The United States is the fifth largest sugar consumer and the fifth largest sugar producer in the world. The U.S. sugar industry has enjoyed trade protection since 1789 when Congress enacted the first tariff against foreign-produced sugar.

The world price for sugar was around $0.12 per pound at the start of 2019. Using the table below, figure out how much sugar would be demanded and supplied domestically at the world price. How much sugar would be imported into the United States?

Illustrate using a graph.

Show graphically how the price of sugar in the United States, imports, domestic consumer surplus, domestic producer surplus, and government revenue would change if the United States imposes a 6 cent tariff per pound of sugar.