-Consider the Above Table

question 118

Multiple Choice

-Consider the above table. Assuming the government imposes a price ceiling on strawberries of $4 per pound, what would be the likely result?

• A) a surplus of 2,000 pounds of strawberries
• B) a shortage of 2,000 pounds of strawberries
• C) No change, equilibrium would prevail.
• D) The quantity demanded of strawberries would fall to zero.

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Definitions:

Land Monopoly

A situation where a significant portion of land is owned or controlled by a single individual or entity, limiting access for others.

Sherman Land

Sherman Land relates to land redistribution proposals during the Reconstruction Era, most notably General William Tecumseh Sherman's Special Field Orders No. 15, which intended to allocate land to formerly enslaved families.

Sharecropping System

A form of agriculture where a landowner allows a tenant to use the land in return for a share of the crops produced on their portion of land, prevalent in the post-Civil War South.

Plantation Owner

An individual who owns a large agricultural estate primarily worked by enslaved people or laborers, historically significant in the context of slavery and colonialism.