Dairy price supports result in a redistribution of welfare from consumers to dairy farmers

Middlemen would serve no productive function if

A) information is scarce and transactions costs are zero. B) information is free and transactions costs are significant. C) information is free and transactions costs are zero. D) people only purchased what they need, rather than what they want.

What is a normal good?

a. A good whose demand increases when income decreases b. A good whose demand decreases when income decreases c. A good whose demand increases when price increases d. Both B&C