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Consider the Following Demand and Supply Schedules for Some Agricultural

Question 122

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Consider the following demand and supply schedules for some agricultural commodity.
Consider the following demand and supply schedules for some agricultural commodity.    TABLE 5-2 -Refer to Table 5-2.Suppose we begin in a free-market equilibrium.If the government then imposes a production quota of 500 units,total farmers' income A) increases by $800. B) increases by $500. C) remains unchanged. D) decreases by $500. E) decreases by $700. TABLE 5-2
-Refer to Table 5-2.Suppose we begin in a free-market equilibrium.If the government then imposes a production quota of 500 units,total farmers' income


A) increases by $800.
B) increases by $500.
C) remains unchanged.
D) decreases by $500.
E) decreases by $700.

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