Multiple Choice
Demand for farm products, in general, is said to be relatively price inelastic. Therefore, U.S. farm policy, which is designed to keep farm prices above equilibrium, should
A) decrease farm incomes
B) increase farm incomes
C) not affect farm incomes
D) reduce the number of farmers
E) lower food prices for consumers
Correct Answer:
Verified
Correct Answer:
Verified
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