Author Question: The figure above shows the market for coffee. The ________ price that producers must be offered to ... (Read 29 times)

clippers! · **on:** Jun 29, 2018

The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 10 million pounds of coffee per month is ________.

A) maximum; 2.00
B) maximum; 3.50
C) minimum; 2.00
D) minimum; 3.50

Question 2

If the U.S. Surgeon General announced that increased grapefruit juice consumption could help prevent heart attacks, what would happen to the equilibrium price and quantity of grapefruit juice?

A) Price and quantity both increase.
B) Price and quantity both decrease.
C) Price increases but quantity decreases.
D) Price decreases but quantity increases.