Exhibit 4-10 Supply and Demand Data for Apricots -Which of the Following Would Occur If the Government Sets

question 88

Multiple Choice

Exhibit 4-10 Supply and demand data for apricots $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Bushels demanded } \\\text { per month }\end{array} & \begin{array} { c } \text { Price per } \\\text { bushel }\end{array} & \begin{array} { c } \text { Bushels supplied } \\\text { per month }\end{array} \\\hline 50 & \$ 5 & 80 \\55 & 4 & 75 \\60 & 3 & 70 \\65 & 2 & 65 \\70 & 1 & 55 \\\hline\end{array}$$
-Which of the following would occur if the government sets a price floor of $4 in the market shown in Exhibit 4-10?

• A) There would be a shortage of apricots.
• B) Buyers would not purchase all of the apricots that are grown.
• C) Buyers would purchase more apricots than are currently being supplied.
• D) Farmers would reduce the number of acres allocated to the growing of apricots.

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Definitions:

Anabolic Reaction

A biochemical process that builds molecules from smaller units, typically consuming energy, as part of the body's synthesis of complex molecules.

Polysaccharide

Polysaccharides are long carbohydrate molecules made of monosaccharide units bonded together, serving as energy storage or structural components in living organisms.

Monosaccharides

Simple sugars that are the most basic form of carbohydrates, serving as the building blocks for more complex sugars and polysaccharides.

Fermentation

An anaerobic process by which ATP is produced by a series of redox reactions in which organic compounds serve both as electron donors and terminal electron acceptors.