If the Market Price of Salmon Is $8

question 17

Multiple Choice

If the market price of salmon is $8.99 per pound but the government will not allow salmon farmers to charge more than $4.99 per pound of salmon,which of the following will happen?

• A) The supply curve for salmon will shift to the left.
• B) There will be an excess demand for salmon.
• C) There will be an excess supply of salmon.
• D) The market will be in equilibrium at a price of $4.99.

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Definitions:

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The preoccupation with and an inclination towards the buying of consumer goods.

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