Refer to the diagram for the corn market. Assuming no externalities, a price support of B causes:
A. economies of scale.
B. production to be less profitable to farmers.
C. an underallocation of resources to this product.
D. an overallocation of resources to this product.
D. an overallocation of resources to this product.
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The downward slope of the demand for money curve reflects the fact that
A) people hold more of their wealth in the form of money as the price level rises. B) people hold more of their wealth in the form of money as the price level falls. C) people hold more of their wealth in the form of money as the interest rate rises. D) people hold more of their wealth in the form of money as the interest rate falls.
A natural monopoly is based on
a. diseconomies of scale b. diseconomies of scope c. external diseconomies d. economic freedom e. economies of scale
Over coffee in the cafeteria Susan stated that the university should be run like a profit- seeking corporation. Sam correctly pointed out that she had made a ____________ statement, as Professor McSnerd had described in their economics class
a. ceteris paribus conjunctive b. normative c. macroeconomic d. positive e. microeconomic
Where did Robert Mugabe get the money he needed for bribes and payoffs?
A. He raised income taxes. B. He printed it. C. He raised estate taxes. D. He raised taxes on corporate profits.