=+b. Now suppose the government wants to lower the supply of wheat by 25 percent from the

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=+b. Now suppose the government wants to lower the supply of wheat by 25 percent from the freemarket equilibrium by paying farmers to withdraw land from production. However, the payment is made in wheat rather than in dollars—

hence the name of the program. The wheat comes

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Microeconomics

ISBN: 9780134184241

9th Edition

Authors: Robert Pindyck, Daniel Rubinfeld

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