Final answer:
The cost imposed on American consumers due to the U.S. import quota on sugar is $2 billion, with an average yearly cost of $110 per U.S. household. Option d is the correct answer.
Step-by-step explanation:
The question revolves around the economic impact of U.S. import quotas on sugar. To understand this, we need to consider facts from a study updated in 2015 about the cost of these import quotas to American consumers. It is important to analyze the economic consequences these quotas have on both U.S. consumers and producers, as well as their impact on foreign sugar producers, particularly in low-income countries.
The data suggest that due to sugar subsidies to domestic producers and the quotas on imports, U.S. consumers are paying higher prices for products containing sugar. Furthermore, the quotas are causing producers in other countries to struggle with exporting their sugar profitably to the U.S. market.
From the multiple-choice options provided and referencing the information that U.S. consumers pay roughly $1 billion per year in higher food prices because of elevated sugar costs, we can deduce that the average cost to consumers is not distributed evenly across the selected options.
The options range significantly, from $105 million to $3 billion in total cost, and from $2 to $2,000 in average cost per U.S. household per year. Considering the given data in the question's background, the answer with the largest cost figure that correlates with the reference information is option ‘d’ $2 billion and $110 average cost per year for every U.S. household.