Exhibit 16-5 Exhibit 16-5 Represents the Market for Leaf

question 45

Multiple Choice

Exhibit 16-5 Exhibit 16-5 represents the market for leaf tobacco.Suppose the government imposes a floor of $1.25 in this market.How much tobacco will be traded in this market?

• A)1, 000 lbs.
• B)2, 000 lbs.
• C)3, 000 lbs.
• D)4, 000 lbs.
• E)5, 000 lbs.

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