Suppose Congress passes legislation that offers subsidies to orange farmers. The impact on the market for...
Suppose Congress passes legislation that offers subsidies to orange farmers. The impact on the market for orange juice will be a rightward shift of:
a) the supply curve.
b) both the supply and demand curves.
c) the demand curve.
Homework Answers
Ans - a) the supply curve
Explanation:
When Congress passes legislation that offers subsidies to orange farmers, it means that the cost of producing oranges falls due to subsidy and as the cost of production falls this lead to rightward shift in the supply curve.
this thing will not shift the demand curve, so ans is a) the supply curve
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