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 triangular area defined by points B and C and the intersection of the supply and demand curve represents the
A) parity ratio.
B) taxpayers' burden.
C) efficiency gain.
D) efficiency loss.
Correct Answer:
Verified
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
Q184: Q186: Which of the following is a major Q187: Farm price support programs tend to Q188: The concept of parity in farm policy![]()
A)benefit both
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