Agricultural price supports in the United States
A) harm U.S. consumers, U.S. taxpayers, and foreign farmers and creates a deadweight loss.
B) benefit U.S. taxpayers, U.S. farmers, and U.S. consumers.
C) create gains to U.S. farmers that are at least as large as losses to U.S. consumers.
D) decrease the deadweight loss and improve market efficiency.
E) None of the above answers is correct.
A
Economics
You might also like to view...
Overproduction results in
A) external costs. B) external benefits. C) deadweight loss. D) super-efficiency. E) the marginal benefit of the last unit produced being larger than the marginal cost.
Economics
What is the relationship between price and marginal revenue for firms in perfect competition? Explain
What will be an ideal response?
Economics