Consider a Market for Fish Whose Market Demand and Market

question 117

Multiple Choice

Consider a market for fish whose market demand and market supply for fish are specified as Qd = 300 − 2.5P and Qs = − 20 + 1.5P, respectively. The government decides to impose a price floor of $50 per ton. What would be the resulting market distortion?

• A) Shortage of 120 tons of fish
• B) Shortage of 175 tons of fish
• C) Surplus of 120 tons of fish
• D) There would be no market distortion

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The physical area designated for work-related activities, which can influence productivity, satisfaction, and organizational culture.

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The shared values, beliefs, and practices that shape the social and psychological environment of an organization, influencing its members' behavior and attitudes.

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