A price support on milk is not in the interest of milk drinkers, so why do elected public officials successfully implement milk price supports?
A) Milk price supports are in the public interest.
B) A small number of households (dairy farmers) gain a great deal, while the costs of the support program is spread among millions of other (milk drinking) households.
C) Dairy farmers are selfish.
D) Milk drinkers are generally unselfish.
B
You might also like to view...
Referring to Figure 19.2, the effect of an increase in U.S. interest rates is represented by a movement from point
A) a to b. B) c to b. C) a to d. D) d to c.
Time is primarily a __________ that can be measured in units
a. Value b. Goal c. Resource d. Decision device
In general, the purpose of markets is to facilitate the exchange of goods and services between buyers and sellers
a. True b. False Indicate whether the statement is true or false
The above figure shows the market for pizza. The market is in equilibrium. Pizza and tacos are substitutes for consumers. The price of tacos falls. What point represents the most likely new price and quantity?
A. Point A
B. Point B
C. Point C
D. Point D
E. Point E