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: 8

Answer

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Work Step by Step

Price supports make it so that there is a minimum price at which a good may be sold for. This helps businesses stay in business and thus keeps products on the market. While some argue that it harms consumers by increasing prices, it is important to note that it also ensures that there are enough of the necessities being sold.
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