Figure: Supply and Demand in Agriculture
(Figure: Supply and Demand in Agriculture) Look at the figure Supply and Demand in Agriculture.If a price floor at P₄ is set to help improve farm incomes and the government wants to assure farmers that their output will be purchased, the government would have to purchase an amount of output equal to:
A.Q₃ - Q0.
B.Q₃ - Q₁.
C.Q₂ - Q₁.
D.Q₁ - Q₃.

Question

Figure: Supply and Demand in Agriculture
   (Figure: Supply and Demand in Agriculture) Look at the figure Supply and Demand in Agriculture.If a price floor at P₄ is set to help improve farm incomes and the government wants to assure farmers that their output will be purchased, the government would have to purchase an amount of output equal to: 
A.Q₃ - Q0.
B.Q₃ - Q₁.
C.Q₂ - Q₁.
D.Q₁ - Q₃.

Quizplus · Accepted Answer

The Answer of Figure: Supply and Demand in Agriculture
   (Figure: Supply and Demand in Agriculture) Look at the figure Supply and Demand in Agriculture.If a price floor at P₄ is set to help improve farm incomes and the government wants to assure farmers that their output will be purchased, the government would have to purchase an amount of output equal to: 
A.Q₃ - Q0.
B.Q₃ - Q₁.
C.Q₂ - Q₁.
D.Q₁ - Q₃.