Participating in a market economy can reap benefits, especially when, as a consumer, you enjoy a surplus. If a producer has too much of a product, as a consumer, you are more likely to get a better price for that product. For this assignment, you will write an essay on how the global sugar market illustrates the concepts of consumer and producer surplus. Instructions 1. Click the link below and watch the video about sugar production. Sugar Runs into Barriers (4 min) Write a two- to three-page essay on how the global sugar market illustrates the concepts of consumer and producer surplus. To do this, consider these questions: Given the information on the sugar market from the video, describe both the supply and demand curves for sugar. How would you describe the producer surplus of sugar? If there is more than adequate sugar being produced, what is the problem? How would you describe the consumer’s demand for sugar? Is there a surplus? Once Brazil has completed its seasonal production of sugar, how will the demand and supply curves change? 3. Click on the link ( https://www.wsj.com/video/sugar-runs-into-barriers/AAE38726-2D53-4A47-8A2B-AFD2841C191B.html )
