True or false: the price floor of $8 per pound of cheese reduces the total revenue of cheese producers.

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asked Nov 20, 2018 21.3k views

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MaKCbIMKo · Answer 1 · 2018-11-24T14:39:41+0000

False, because the fact that they're selling by pound doens't change their revenue if, and only if, they made the math calculus about the best price to sell the cheese acording to their balance sheet

True or false: the price floor of $8 per pound of cheese reduces the total revenue of cheese producers.

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