Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 20 - Agriculture: Economics and Policy - Discussion Questions: 7

Answer

The answer is below.

Work Step by Step

We know: Parity ratio $ = \frac {price \space received}{price \space paid} = \frac{120}{165} = 72$%
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