3 Explain how a price support in the market for an agricultural product creates a surplus, inefficiency, and unfairness.

Explained below

Explanation:

- A price support in the market for an agricultural product will increase the quantity that's produced and also decrease the quantity being consumed which will in turn create a surplus.

- Now, to maintain this support price, the government usually will buy the surplus and then subsidize the producer.

- This price support will be of great benefit to the producer but on the other hand it will cost the consumer/taxpayer more than the producer will profit thereby creating a deadweight loss.

- In summary, this price support can be said to be inefficient and is normally unfair.

answer; by looking at total product,marginal product,and changes in both after changes in inputs

answer; comparing the additional benefits and costs;