When a subsidy was in place, the price that Egyptian farmers received for their cotton was about $556 per bale, and these farmers produce about 525,000 bales per year. However, when the subsidies were removed, the cotton price received by farmers promptly dropped to $426 per bale and Egyptian farmers responded by reducing the amount of cotton produced, to 315,000 bales per year. The short-run price elasticity of supply was 1.92. We can expect that the long-run price elasticity of supply will be

Policymakers are provided data about the private and social benefits of a good being sold in the market. quantity private mb ($) social mb ($) 6 6 9 7 4 7 8 2 5 9 0 3 what is the size of the externality? if the externality is positive, enter a positive number. if negative, make it a negative number. $ given this data, policymakers must decide whether to address the associated externality with a subsidy or a tax. as their economic consultant, which of the two policy tools would you recommend? a subsidy a tax

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value

Based on what you learned about time management which of these statements are true