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NYC NYC
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8 years ago
If the market price of corn is $10.00 per bushel but the government will not allow corn farmers to charge more than $7.00 per bushel of corn, which of the following will happen?
A) Demand must eventually decrease so that the market will come into equilibrium at a price of $8.00.
B) There will be a surplus of corn.
C) Supply must eventually increase so that the market will come into equilibrium at a price of $7.00.
D) There will be a shortage of corn.
Textbook 
Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
Authors:
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JesslynJesslyn
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NYC Author
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#2
8 years ago
Good answer, thanks.
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