United States when the quotas on sugar are removed. 3. India has a 70 percent tariff on imported chocolate. a. Sketch a diagram to show the impact of this tariff on the price of imported chocolate in...

United States when the quotas on sugar are removed. 3. India has a 70 percent tariff on imported chocolate. a. Sketch a diagram to show the impact of this tariff on the price of imported chocolate in India. b. Suppose India cuts the tariff to zero but imposes a quota that results in the same high price for imported chocolate. Show this in a diagram. c. From the government’s perspective, is it better off with a tariff or with a quota? Explain