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The following graph depicts the market-level effects of using set-aside requirements to support farm prices and income. Enter a T or F in the following

The following graph depicts the market-level effects of using set-aside requirements to support farm prices and income. Enter a T or F in the following blanks to indicate whether the corresponding statements are true or false: ___________Domestic consumers are made worse off economically in the current period as a result of the government's actions. ___________ The extent to which the government has to enter the market is unaffected by the elasticity of the demand curve. ___________ QF represents the quantity sold to foreign governments. ___________ Areas 3 and 4 represent the economic loss to society as a result of this policy action. ___________ Producers gain area 6 from consumers' willingness to pay price PG for quantity QG

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