11. (T/F) When the price of potato went up from $2 to $4, farmer Helen went from producing nothing to 100 lb. per week. Her minimum marginal cost must be between $2 and $4. 12. (T/F) An effective subsidy program will make both producers and consumers gain.

11. (T/F) When the price of potato went up from $2 to $4, farmer Helen went from producing nothing to 100 lb. per week. Her minimum marginal cost must be between $2 and $4. 12. (T/F) An effective subsidy program will make both producers and consumers gain.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 6CQQ

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11. (T/F) When the price of potato went up from $2 to $4, farmer Helen went from producing
nothing to 100 lb. per week. Her minimum marginal cost must be between $2 and $4.
12. (T/F) An effective subsidy program will make both producers and consumers gain.

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