The federal government's support of farm prices in the United States has affected the value of farm property
Indicate whether the statement is true or false
T
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Sweet Husks is a perfectly competitive corn farm. Currently, the expected price of an ear of corn is $0.30 and, at its current production level, Sweet Husks has a marginal cost of $.40 per ear. Which of the following statements is true?
A) Because the expected profit from an additional ear of corn is $0.10, Sweet Husks should decrease production to maximize its expected profit. B) Because the expected profit from an additional ear of corn is -$0.10, Sweet Husks should decrease production to maximize its expected profit. C) Because the expected profit from an additional ear of corn is $0.70, Sweet Husks should increase production to maximize its expected profit. D) Because the expected profit from an additional ear of corn is $0.10, Sweet Husks should increase production to maximize its expected profit.
The United States ranks higher than Israel and Egypt on the 2017 Index of Economic Freedom.
Indicate whether the statement is true or false.
If two countries find that neither has a comparative advantage in the production of any good or service:
A) it must be true that one country produces everything more efficiently than the other country. B) each country will find it beneficial to trade. C) it is impossible for them to benefit from trade. D) they should still specialize and trade.
When consumers maximize utility, they are equating the ratio of marginal utility to price across all goods consumed.
Answer the following statement true (T) or false (F)