The Table Given Below Reports the Quantity Demanded and Supplied

question 57

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5


-Refer to Table 3.5.If government imposes a price floor of $2:

• A)the price floor will not have an effect.
• B)the price will fall to $1 because producers will be forced to incur losses.
• C)demand will increase.
• D)a surplus will result equal to 20 units.
• E)a shortage will result equal to 20 units.

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Definitions:

Sporophyte

The diploid phase in the life cycle of plants and algae that produces spores through meiosis.

Vascular Tissue

Specialized tissue in plants responsible for the transport of water, nutrients, and sugars throughout the organism.

Hornworts

A group of non-vascular plants belonging to the division Bryophyta, characterized by a flat, green plant body and a sporophyte that resembles a small horn.

Angiosperms

A large group of flowering plants that produce seeds enclosed within a fruit.