Explain the food supluses in the rich countries

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Reference no: EM13180198

In the United States and Western Europe, farmers are strong enough politically to persuade their governments to set price floors for many crops. In many less-developed countries, governments that are worried about the standard of living of their urban populations impose price ceilings on food staples like rice and wheat. Use supply and demand curves to show how these policies can help to explain the food supluses in the rich countries and the stortages in the poor countries.

Reference no: EM13180198

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