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Author Question: If the market price of green tea is $20.00 per pound and the government will not allow green tea ... (Read 105 times)

gbarreiro

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on: Apr 19, 2019

If the market price of green tea is $20.00 per pound and the government will not allow green tea growers to charge more than $25.00 per pound of green tea, which of the following will happen?


◦ Demand must eventually decrease so that the market will come into equilibrium at a price of $17.50.
◦ There will be a shortage of green tea.
◦ Supply must eventually increase so that the market will come into equilibrium at a price of $17.50.
◦ The price ceiling will be ineffective and the market will remain in equilibrium.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by gbarreiro on Apr 19, 2019

coyin

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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gbarreiro

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Reply #2 on: Apr 19, 2019
Thank you!


coyin

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Reply #3 on: Apr 19, 2019
Always glad to help...


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