Government assistance to farmers, which seeks to maintain a target price by buying surplus output, results in
A) higher prices and less food for consumers.
B) higher prices and more food for consumers.
C) lower prices and less food for consumers.
D) lower prices and more food for consumers.
A
Economics
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The profit-maximizing output for the perfectly competitive firm occurs at the point at which
A) TR - MR is at a maximum. B) TR - TC is at a minimum. C) MR = MC. D) TR - ATC is at a maximum.
Economics
The second largest source of revenue for the federal government is the
a. import tax. b. payroll tax. c. export tax. d. federal property tax.
Economics