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Illustrate on a graph the United States' move from autarky to free trade in the sugar...

Illustrate on a graph the United States' move from autarky to free trade in the sugar market.

Assume the world price for sugar is less than the autarky price in the US.

A fully correct answer will have the following: A fully labeled graph of the US market for sugar including price, quantity, US supply, US demand, the autarky equilibrium, the world price, the quantity demanded under free trade, the quantity supplied under free trade, and the size of imports/exports under free trade.

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Answer #1

supranestic At Autarty Price Ч arty? E to Domestic Q. x Quanti Under free Traders trily # is Prie Domestic to Ege Sforeign st

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