Setting a Price Support in the Market for Sugar Beets

question 74

Multiple Choice

Setting a price support in the market for sugar beets above equilibrium price ________ the quantity produced and ________ the quantity bought by consumers.

• A) decreases; decreases
• B) increases; decreases
• C) decreases; increases
• D) increases; increases
• E) does not change; increases

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Definitions:

Explicit Memory

The conscious recollection of information, such as facts and events, which can be verbally communicated.

Knit

The craft of creating fabric or textile by interlocking loops of yarn using needles.

Procedural Memory

A type of long-term memory involved in the unconscious memory of skills and how to perform certain tasks.

Skiing

A winter sport involving the movement over snow with the help of skis attached to each foot.