Suppose the Equilibrium Price of Bread Is $2

question 123

Multiple Choice

Suppose the equilibrium price of bread is $2.00 per loaf. If the government sets a price ceiling of $1.50 per loaf, what will be the result?

• A) The quantity of wheat supplied will increase.
• B) The equilibrium price of wheat will fall and a shortage of wheat will be created.
• C) There will be a shortage of bread.
• D) The quantity of wheat demanded will decrease.

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Definitions:

Huntington's Disease

A hereditary brain disorder causing the progressive breakdown of nerve cells, affecting movement, cognition, and emotions.

Genetic

Relating to the genes or heredity, and how traits and characteristics are passed from parents to offspring.

Neurologic Disorder

A range of conditions affecting the nervous system, including the brain, spinal cord, and nerves, often resulting in functional impairments.

Rubella

A viral infection that can cause intellectual disabilities and heart disease in the embryo. Also called German measles.