The agricultural price support program in the United States has resulted in:
A. Declining average farm income
B. Surpluses of price-supported farm commodities
C. Shortages of price-supported farm commodities
D. A gradual migration of people from farms to cities
B. Surpluses of price-supported farm commodities
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The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies
A) $11 B) $15 C) $30 D) $45
How would you define a DD schedule?
A) the combinations of output and the exchange rate that must hold when the home money market and the foreign exchange market are in equilibrium B) the combinations of output and the exchange rate that must hold when the output market is in short-run equilibrium C) factors of production in the long run D) the aggregate demand in relation to the foreign market value E) the currency depreciation in relation to the exchange rate