Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 6 - Market Efficiency and Government Intervention - Exercises - 6.4 Controlling Quantities - Licensing and Import Restrictions - Page 148: 4.3

Answer

0 tons; 160 tons; 80 tons

Work Step by Step

Domestic firms are unwilling to produce any sugar for less than \$0.26 per pound. Since the supply curve is linear, the amount they are willing to supply at \$0.28 per pound is the midpoint of 0 and 160 tons.
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