In a Crop Market with a Price Support Above the Equilibrium

question 92

Multiple Choice

In a crop market with a price support above the equilibrium price,the total amount of the subsidy paid to farmers is equal to the

• A) quantity of the surplus crop multiplied by the support price.
• B) quantity of the crop produced multiplied by the support price.
• C) quantity of the crop purchased by domestic users multiplied by the support price.
• D) quantity of the surplus crop multiplied by the equilibrium price.
• E) quantity of the crop purchased by domestic users multiplied by the equilibrium price.

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Definitions:

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