ECON312 week 3 Homework 2018

Question 1 Maryland farmers turn from tobacco to flowers Maryland tobacco farmers will be subsidized if they switch from growing tobacco to growing crops such as flowers and organic vegetables. How does offering farmers a payment to exit tobacco growing influence the opportunity cost of growing tobacco? What is the opportunity cost of using the equipment owned by a tobacco farmer? Offering farmers a payment to exit tobacco growing _______ the opportunity cost of growing tobacco. The opportunity ...