Item Base year (2015) 2016 Production Price Production Price 5,000 2000.00 8,000 8,000 1,500 5,000 6,000 10,000 1200.00 14,000 1,800 6,000 Used car sales 2,500 Factory components sales 500.00 Cloth sales 20.00 35.00 Beef sales 10.00 12.00 Milk litres sales 1.30 2.50 Computers sales 2000 500.00 2500 800.00 Printers sales 500 300.00 400 355.00 Raw materials for tractor 4500 250.00 4450 300.00 assembling plant sales

Item Base year (2015) 2016 Production Price Production Price 5,000 2000.00 8,000 8,000 1,500 5,000 6,000 10,000 1200.00 14,000 1,800 6,000 Used car sales 2,500 Factory components sales 500.00 Cloth sales 20.00 35.00 Beef sales 10.00 12.00 Milk litres sales 1.30 2.50 Computers sales 2000 500.00 2500 800.00 Printers sales 500 300.00 400 355.00 Raw materials for tractor 4500 250.00 4450 300.00 assembling plant sales

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 47CTQ: Agricultural price supports result in governments holding large inventories of agricultural...

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