p?course assessment id 48176 18course jd 44368 1conitent.jd 1245172,1question.nu
ID: 1125593 • Letter: P
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p?course assessment id 48176 18course jd 44368 1conitent.jd 1245172,1question.num 2 Warnings appear when half the time.5 minutes, 1 minute, and 30 seconds reman Multiple Atlempts Not alkowed. This test can only be taken once Force Completion This test can be saved and resumed at any point unts tbme has expired The tmer witl contnue to nun you leave the test Remaining Time: 1 hour, 53 minutes, 51 seconds. - Question Completion Status: Moving to another question wa save this response aeston Question 23 3 points in the 1980s Congress offered to pay dairy farmers to sell their cows for meat. What happened in the milk market? e The supply curve for mik curve for mik shifted left, the price and quantity of milk decreased The supply curve for milk shifted right the price and quantity of mik increased O The supply curve tor milk shifted left, the price increased and quantity decreased The supply curve for milk shifted left, the price decreased and quantity increased Question Moving to another question will save this response dows FI F7Explanation / Answer
23. (i) The supply curve for milk shifted left; the price and quantity of milk decreased.
(In the 1980s, there was a glut in dairy products market, dairy surpluses accumulated, because of the federal price support programs. Instead of ending the surplus by lowering dairy price supports, Congress decided to solve the problem by encouraging farmers to slaughter their cows)
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