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If the market price of coffee is $3.00 per pound but the government will not allow coffee growers to ...

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If the market price of coffee is $3.00 per pound but the government will not allow coffee growers to ...

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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apadong Author

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7 years ago

Correct

amandamraz

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Thanks

prime7105

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You make an excellent tutor!

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