Farmers are often heard to complain about the high costs of machinery, labor, and fertilizer, suggesting that

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Farmers are often heard to complain about the high costs of machinery, labor, and fertilizer, suggesting that these costs drive down their profits. Does it follow that if, for example, the price of fertilizer fell by 10  percent, farming (a highly competitive industry with low barriers to entry) would be more profitable? Explain.

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Economics Private And Public Choice

ISBN: 9780357133996

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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