Examlex

Solved

Suppose a Small Island Nation Imports Sugar for Its Population

question 39

Multiple Choice

Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below. Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below.   If the government provides a subsidy of $500 per ton, then relative to before the subsidy, total economic surplus will ________ by ________ per day. A) increase; $6,500 B) decrease; $6,500 C) increase; $1,000 D) decrease; $1,000 If the government provides a subsidy of $500 per ton, then relative to before the subsidy, total economic surplus will ________ by ________ per day.


Definitions:

Unconscious Processes

Mental processes that occur without conscious awareness, influencing thoughts, feelings, and behaviors.

Belongingness Need

A fundamental human motivation to be an accepted member of a group, whether it's friends, family, or within a larger community.

Ventromedial Nucleus

A region of the hypothalamus involved in regulating hunger and satiety, playing a crucial role in energy homeostasis and metabolism.

Aversion to Food

A strong dislike or disinclination toward certain foods, which can be psychological or physiological in origin.

Related Questions