11. a) Briefly explain the basic purpose and functioning of the price floor, one of the methods of direct govemment support, by drawing a graph.(10 points). b) Explain, by drawing a graph, the basic purpose and functioning of the premium system (financial aid system), which is another important type of direct support for agricultural producers. (10 points). c) Briefly explain the basic and most important difference between price floor and premium system.

11. a) Briefly explain the basic purpose and functioning of the price floor, one of the methods of direct govemment support, by drawing a graph.(10 points). b) Explain, by drawing a graph, the basic purpose and functioning of the premium system (financial aid system), which is another important type of direct support for agricultural producers. (10 points). c) Briefly explain the basic and most important difference between price floor and premium system.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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