Suppose, in the United States, each farmer is given a federal agricultural subsidy worth $30,000 . What will be the effect of such subsidy?
a. They discourage domestic agricultural production.
b. They allow U.S. farmers to sell their products for lower prices in foreign markets.
c. They give foreign producers an unfair cost advantage.
d. They increase the amount of agricultural imports into the United States.
e. The price of the primary products decline in the U.S. market.
b
Economics
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A natural monopoly is any market in which competition and entry are restricted by the granting of a public franchise, government license, patent, or copyright
Indicate whether the statement is true or false
Economics
Exhibit 5-1 Demand curve
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In Exhibit 5-1, between points b and c, the price elasticity of demand measures
A. 0.425. B. 1.571. C. 0.143 D. 0.636.
Economics