Eliminating all farm price floors would
a. raise farmers' profit
b. increase the MRP of farms
c. raise the price of farm goods
d. create an excess demand for farm goods
e. lower farm property values
E
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In the short run, the price at which a firm's total revenues equal its total costs is
A) a point of positive profits. B) a no return price. C) the short-run shutdown point. D) the short-run break-even point.
Which of the following changes would not lead to a shift in Canada's production possibilities curve?
a. the introduction and use in Canada of more advanced technology b. a substantial emigration of Canadian workers to the U.S. c. a prolonged summer drought in Canada's Prairie Provinces that destroys 18% of Canada's wheat harvest d. a sharp increase in the number of Canadians earning advanced degrees in education, e.g., BA's, BS's, MD's and PhD's e. a change in the composition of Canada's output