The 1910–1914 period was chosen as a benchmark period for determining parity prices because that was when
a. there was the greatest number of farms
b. corn prices were the highest
c. farmers believed that farm and nonfarm prices were such that farms goods tradedequal value for equal value with nonfarm goods
d. the exchange standard was most biased in favor of farmers
e. farm productivity was the lowest
C
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Who among the following is NOT frictionally unemployed?
A) Andrew, a teenager who has just entered the labor market looking for his first part-time job B) Barbara, who is re-entering the labor market after a divorce C) Charles, who was laid off from his factory job but expects to be recalled in a few weeks D) Diana, who has quit her job and is now looking for another
Use the above figure. The total cost of producing at the optimal level for the monopolistically competitive firm is
A) $285. B) $255. C) $180. D) $300.