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

question 342

Multiple Choice

Garbanzo Beans

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

• A) a surplus of 2,000 garbanzo beans on the market
• B)a shortage of 2,000 garbanzo beans on the market
• C)Market equilibrium will be reached.
• D)The quantity demanded of garbanzo beans would fall to zero.

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