Acreage allotment programs were designed to:
A. reduce the supply of agricultural products.
B. make the demand for farm products more price elastic.
C. bolster the demand for agricultural commodities.
D. accelerate the movement of human resources out of farming.
Answer: A
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Refer to Table 14-5. Does Ming have a dominant strategy? If yes, what is it?
A) Yes, Ming's dominant strategy is to wait to see what Henri does first. B) No, Ming does not a dominant strategy - his best outcome depends on what Henri does. C) Yes, Ming's dominant strategy is to not to offer free pickup and delivery. D) Yes, Ming's dominant strategy is to offer free pickup and delivery.
A perfectly competitive firm's short-run supply is infinite at the market price
a. True b. False Indicate whether the statement is true or false