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Author Question: Refer to the above figure. A price floor of 60 results in A) a shortage of 100 units. B) a ... (Read 65 times)

swpotter12

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on: Jun 29, 2018
Refer to the above figure. A price floor of 60 results in
 
  A) a shortage of 100 units.
  B) a shortage of 200 units.
  C) a surplus of 100 units.
  D) a surplus of 200 units.

Question 2

Sugar is an input used to produce cereal. Suppose that the price of sugar rises. As a result
 
  A) the supply curve for sugar will shift to the right.
  B) the supply curve for sugar will shift to the left.
  C) the supply curve for cereal will shift to the right.
  D) the supply curve for cereal will shift to the left.


duke02

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


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