Dairy price supports result in a redistribution of welfare from consumers to dairy farmers.

Name: Dairy price supports result in a redistribution of welfare from consumers to dairy farmers.
Brand: Quizplus
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Question

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Dairy price supports, such as subsidies or import tariffs, increase the price of dairy products, resulting in consumers paying more. This extra cost is transferred to dairy farmers in the form of higher prices for their products, resulting in a redistribution of welfare from consumers to dairy farmers.

Dairy Price Supports Result in a Redistribution of Welfare from Consumers