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wrote...
Posts: 68
2 weeks ago

Question 1.




Refer to the above figure. A price ceiling of $20 results in

• a surplus of 200 units.

• a shortage of 200 units.

• a surplus of 100 units.

• a shortage of 100 units.

Question 2.

Which of the following is most likely to benefit from government established price floors in agriculture?

• large farm owners and corporate farms

• small farmers

• low income farmers

• cattle ranchers
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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wrote...
Posts: 72
2 weeks ago
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Answer 1

a shortage of 100 units.

Answer 2

large farm owners and corporate farms
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