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The Governmental Expense of a Farm Price Support Tends to Increase

question 45

True/False

The governmental expense of a farm price support tends to increase as the price of the good falls.


Definitions:

Worth

The value or importance of something, often measured in terms of money or utility.

Marginal Utility

The additional satisfaction or utility received by a consumer from consuming one more unit of a good or service.

Consumer Surplus

The divergence between the sum consumers are prepared and financially capable to pay for a good or service and the sum they actually disburse.

Marginal Utility

The extra pleasure or benefit received from using an additional unit of a product or service.

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