The figure above shows that the government subsidy accounts for ________ percent of the farmers' revenue
A) 33
B) 67
C) 50
D) 100
E) 25
A
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Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
Refer to the diagram. Which one of the following might shift the marginal benefit curve from MB1 to MB2?
What will be an ideal response?
For a monopsonist the marginal cost of increasing its workforce will always be greater than the wage rate because
A. a normal rate of return must be paid to the owner. B. the industry will be a closed shop. C. the wage rate offered the newest employee must be paid to all workers. D. there is not good factor substitution in a monopsony.
What is the Prisoner’s Dilemma? How is this dilemma similar to the one for two firms competing for market share as described in the text?
What will be an ideal response?