Question: Calculate a trade-weighted world import price. Use the data in Table to calculate the U.S. world import price for corn:
a. Calculate the bilateral U.S. cif, import price for its corn imports from each trade partner.
b. Calculate the trade-weighted, bilateral cif import price U.S. imports from each trade partner.
c. Calculate the U.S. world import price as the sum of the trade-weighted bilateral cif import prices.
