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Q. (a) A country recently passed food stamp legislation. Qualified households are given food stamps, which can be used to purchase foods, but they cannot legally re-sell the food stamps. Assume a household receives a grant of $500 of food stamps every month. How will this household's budget line be affected? (Hint: Consider two goods: food also other goods.)
(b) Show that if the food stamps could be legally re-sold, the welfare of the household would be increased. Give one reason why food stamps should not be re-sold.
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Calculate the four combinations of outputs of corn and rice for these 4 plans.
In this forum we discuss the different arguments that are made in favor of international trade protectionism and the important role of the politics of protectionism.
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he perfectly competitive form maximizes profits by producing 10 units of output. At what price does it sell these units.
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Howard Bowen is a large-scale cotton grower. The land as well as machinery he owns has a current market value of $4 million.
Under what situation would Gore be better off giving Bush a head start on putting mutually his presidential ticket.
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