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Sublight2097 Sublight2097
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Posts: 4132
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8 years ago
Suppose the market-clearing price of milk is $3.00 per gallon, but the diary industry persuades the government to establish a legally-mandated price support at $4.00 per gallon. The newly legislated price tends to
A) create a surplus of milk.
B) increase the price of milk products.
C) increase the output of milk.
D) reduce the quantity of milk demanded.
E) do all of the above.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SmooothSmoooth
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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#3
8 years ago
No problemo Happy Dummy
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#4
3 years ago
Thank you
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