Suppose 100 Bushels of X Are Produced at a Target

question 141

Multiple Choice

Suppose 100 bushels of X are produced at a target price of $7 per bushel,but consumers will only buy 100 bushels at $3 a bushel.What is the total deficiency payment to farmers?

• A)$400
• B)$600
• C)$300
• D)$100

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Definitions:

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