Garbanzo Beans -Consider the Above Table. Assuming the Government Imposes a Price

question 256

Multiple Choice

Garbanzo Beans

-Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?

• A)a surplus of 2000 garbanzo beans
• B)a shortage of 2000 garbanzo beans
• C)No change, equilibrium would prevail.
• D)The quantity demanded of garbanzo beans would fall to zero.

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