Refer to the below graph. An increase in the price of agricultural products from PB to PA will:
A. Increase farm incomes by 0PAAQA
B. Decrease farm incomes by 0PBEQA
C. Decrease farm incomes from 0PBBQB to 0PAAQA
D. Increase farm incomes from 0PBBQB to 0PAAQA
D. Increase farm incomes from 0PBBQB to 0PAAQA
You might also like to view...
Assuming a horizontal aggregate supply curve, output will change when
a. monetary or fiscal policy changes. b. monetary policy changes. c. fiscal policy changes. d. capital, labor, or technology changes. e. all of the above
Price elasticity of demand is a numerical measure of how much quantity demanded rises as price falls or quantity demanded falls as price rises
a. True b. False Indicate whether the statement is true or false
When network externalities are present, the market demand for the good in question becomes:
A.unit elastic. B. less elastic. C. more elastic. D. perfectly inelastic.
The merit standard refers to
A) "To each according to her need." B) "To each exactly the same." C) "To each according to her productivity." D) "To each according to his ability."