Question #60481
If the government announces the Minimum Support Price of Rs 10 per kg of rice, what will be the effect in rice market?
1
Expert's answer
2016-06-20T09:48:02-0400
If the government announces the Minimum Support Price of Rs 10 per kg of rice, then the price of rice will increase, the quantity supplied will be higher than the quantity demanded, so there will be a surplus rice market.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Place free inquiry
Calculate the price
Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult. You can find this expert in "Assignmentexpert.com" with confidence. Exceptional experts! I appreciate your help. God bless you!
Canada #340153 on Dec 2023