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Home Q & A Board Other Fields Homework Help Business Economics
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apadong apadong
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7 years ago
If the market price of coffee is $3.00 per pound but the government will not allow coffee growers to charge more than $2.00 per pound of coffee, which of the following will happen?
A) Demand must eventually decrease so that the market will come into equilibrium at a price of $2.50.
B) Supply must eventually increase so that the market will come into equilibrium at a price of $2.50.
C) The market will be in equilibrium at a price of $2.00.
D) There will be a shortage of coffee.
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DeToXiFYDeToXiFY
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#1
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7 years ago
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apadong Author
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7 years ago
Thanks for your help!!
SlimyPencil
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Yesterday
Correct Slight Smile TY
fgarza2146
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2 hours ago
Good timing, thanks!
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