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Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088Macroeconomics 8th Edition by David Colander
Edition 8ISBN: 978-0077398088 Exercise 9
Until recently, angora goat wool (mohair) has been designated as a strategic commodity (it used to be utilized in some military clothing). Because of that, in 1992 for every dollar ' s worth of mohair sold to manufacturers, ranchers received $3.60.
a.Demonstrate graphically the effect of eliminating this designation and subsidy.
b.Why was the program likely kept in existence for soc.Say that a politician has suggested that the government should pass a law that requires all consumers to pay a price for angora goat wool high enough so that the sellers of that wool would receive $3.60 more than the market price. Demonstrate the effect of the law graphically. Would consumers support it? How about suppliers?
a.Demonstrate graphically the effect of eliminating this designation and subsidy.
b.Why was the program likely kept in existence for soc.Say that a politician has suggested that the government should pass a law that requires all consumers to pay a price for angora goat wool high enough so that the sellers of that wool would receive $3.60 more than the market price. Demonstrate the effect of the law graphically. Would consumers support it? How about suppliers?
Explanation
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Demand curve is the curve which shows th...
Macroeconomics 8th Edition by David Colander
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