Assuming the demand for their products is inelastic, farmers (as a group) have an incentive to
A) increase the supply of what they sell.
B) agree among themselves to decrease the supply of what they sell.
C) spend at least 10 percent of their budgets to advertise their products.
D) b and c
E) a and c
B
Economics
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Which of the following is NOT a device to reduce transaction costs?
A) shopping centers B) auto dealers located close together C) government prohibitions on advertising D) banks that direct funds from savers to borrowers
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Price subsidies have no deadweight losses so long as the (uncompensated) demand curve is vertical.
Answer the following statement true (T) or false (F)
Economics