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Author Question: If the market price of coffee is $3.00 per pound but the government will not allow coffee growers to ... (Read 325 times)

darbym82

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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?


◦ Demand must eventually decrease so that the market will come into equilibrium at a price of $2.50.
◦ There will be a shortage of coffee.
◦ Supply must eventually increase so that the market will come into equilibrium at a price of $2.50.
◦ The market will be in equilibrium at a price of $2.00.


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Marked as best answer by darbym82 on Apr 19, 2019

vboyd24

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