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Sublight2097 Sublight2097
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8 years ago
An increase in the level of government price supports for wheat will not make wheat farming more profitable because
A) by definition government actions cannot affect profits.
B) it raises the cost of growing wheat as well as the revenue.
C) profit is the consequence of certainty and government policies are inherently uncertain.
D) the demand for wheat is inelastic.
E) wheat farmers are price takers, not price searchers.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SmooothSmoooth
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
You're welcome Happy Dummy
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