In Canada we have government intervention in the dairy market in the form of quotas on milk production. What are two predicted economic effects of this policy? O a. An equitable distribution of income between dairy farmers and consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. O b. A redistribution of income from dairy farmers to consumers of dairy products and an increase in the total amount of economic surplus in the dairy market. Oc. Aredistribution of income from dairy farmers to consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. Od. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in the total amount of economic surplus in the dairy market. O e. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in deadweight loss in the dairy market.

In Canada we have government intervention in the dairy market in the form of quotas on milk production. What are two predicted economic effects of this policy? O a. An equitable distribution of income between dairy farmers and consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. O b. A redistribution of income from dairy farmers to consumers of dairy products and an increase in the total amount of economic surplus in the dairy market. Oc. Aredistribution of income from dairy farmers to consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. Od. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in the total amount of economic surplus in the dairy market. O e. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in deadweight loss in the dairy market.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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