This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why would irrigated farming not become more profitable if the federal government lowered the price ... (Read 71 times)

bobthebuilder

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
Why would irrigated farming not become more profitable if the federal government lowered the price farmers had to pay for irrigation water?
 
  A) Farmers would have to pay more for electricity to pump the water.
  B) The cost of owning or renting land that could be irrigated would rise.
  C) The prices of irrigated crops would not rise.
  D) Water is a marginal cost in farming.
  E) Water is a sunk cost in farming.

Question 2

Refer to the scenario above. Which of the following is likely to be true if the game is played only once?
 
  A) The equilibrium outcome will be a Nash.
  B) The equilibrium outcome will be socially inefficient.
  C) No unique equilibrium will occur.
  D) Multiple Nash equilibria will occur.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jonathanballen97

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


bobthebuilder

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
Gracias!

brbarasa

  • Member
  • Posts: 308
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Crocodile farming in Australia. Crocodile farming in Australia.
Farming Practices Influence Runoff and Sedimentation Farming Practices Influence Runoff and Sedimentation
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
Government in America: People, Politics, and Policy, AP Government in America: People, Politics, and Policy, AP
Erosion Due to Poor Farming Practices Erosion Due to Poor Farming Practices
Video: Fermentation pathways

For a complete list of videos, visit our video library