Based on what we learned about agribusiness systems in Chapter 6, what should we expect as a result of massive government subsidies to cotton farmers? Chapter 6: http://www.geog100.org/p/6-agriculture.html
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Based on what we learned about agribusiness systems in Chapter 6, what should we expect as a result of massive government subsidies to cotton farmers?
Chapter 6: http://www.geog100.org/p/6-agriculture.html
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- Which of these is one effect of government price supports in the agriculture industry? The supply of agricultural goods is reduced relative to consumer demand. There is a greater competition from foreign agricultural suppliers. The price of agricultural goods is lower for consumers. There is a greater efficiency in the use of farmland by agricultural producersAccording to free-market economists: a. when capital goods are allocated by the market, they will go to the firms who can most profitably use them. b. when a surplus or a shortage occurs, changes in prices rapidly send information to firms and households for them to act upon. c. because of the pervasiveness of externalities, there is a role for government regulation. d. All of the above are correct. e. Both a and b are correct. f. Both a and c are correct. g. Both b and c are correct. h. None of the above are correctThe market supply and demand for solar panels are given respectively by QS = 80P – 5,000 and QD = 65,000 – 20P, where P is price per solar panel and Q measures the quantity of solar panels. Suppose the government provides a £100 subsidy per solar panel. A. Calculate the price and equilibrium quantity before the government subsidy. B. Calculate the post-subsidy equilibrium quantity, the prices consumers pay and the price producers receive C. How much does the subsidy program cost the government? (3%)
- List and describe two supply-side policies that could be instituted to encourage more sustainable forestry.List and explain three strategies that can be used by the government to deal with the constraints within the agriculture sectorThe people of Chingola district a town in the Copperbelt province of Zambia are concerned over the activities of the local investor whose copper mining activities have resulted in the pollution of the Kafue river. Some commentators have argued that there is need for Government to come up with a tax to deal with this externality. Using your knowledge of Public sector economics, Identify the type of externality and how large tax rate should the government use in order to eliminate this externality? Why does this tax rate work? Use a diagram to illustrate your answer.
- Identify a market failure(air pollution or water pollution) in Trinidad and Tobago, identify the type of market failure and discuss why market failure occured. ( public good, asymmetric information, positive or negative externality)Suggest a relevant government policy that would yield the efficient outcome and carefully explain the process through which the implementation of the government policy will lead to the optimal outcome. Carefully explain how the imposition of the chosen government policy impact consumer surplus, producer surplus and total surplus in this scenario.Provide a graphical representation of a negative supply-side externality that identifies the market failurein terms of both price and quantity.Subsidies are A. all of the other answers. B. rewards for those receiving a positive externality. C. paid by the receiver of external benefits. D. the opposite of taxes.
