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Prepared by Marwan Mikhael.
Exports of goods.
In this case, it will not be necessary to introduce another equation to the model where exports are specified and could depend on world income and exchange rate.
It is important to note that this representation of the economy does not contradict our previous demand-oriented representation for economic growth, since both representations are independent, and the Cobb Douglas function is only used to derive contribution of Labor to the value added of the sugar sector.
HFCS is a synthetically sugar obtained from fructose which is a very sweet sugar derived from dextrose. Dextrose is a sugar derived synthetically from starch and most commonly from corn.
This assumption should be taken with caution since the reaction of the supply, in case of liberalization, is very uncertain due to the fact that a large proportion of world sugar producers have higher production costs, and a large portion of world sugar supply is subsidized.
See the chapter on the labor market in Mauritius.