Refer to the graph of the market for wheat. The government adopts a price support program for wheat and supports the wheat price at P ₂. The area of Q ₁ ABQ ₂ would measure the
A) total amount received by farmers from selling wheat.
B) total profits of wheat farmers.
C) amount government will pay to wheat farmers.
D) amount buyers of wheat will pay to wheat farmers.
Correct Answer:
Verified
Q179: The following factors have boosted farm income
Q180: A significant reason that increases in demand
Q181: The price of a certain farm product
Q182: Farm price support programs have other costs
Q183: If the parity ratio goes from 0.8
Q185: Q186: Which of the following is a major Q187: Farm price support programs tend to Q188: The concept of parity in farm policy Q189: ![]()
A)benefit both![]()
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