This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the market price of green tea is $20.00 per pound and the government will not allow green tea ... (Read 82 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by gbarreiro on Apr 19, 2019

coyin

  • Sr. Member
  • ****
  • Posts: 334
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.
Answer Preview
Only 56% of students answer this correctly


gbarreiro

  • Hero Member
  • *****
  • Posts: 566
Reply #2 on: Apr 19, 2019
Thank you!


coyin

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Apr 19, 2019
Always glad to help...


« previous next »
 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Government Corruption versus GDP per Capita, 2009 Government Corruption versus GDP per Capita, 2009
Green Apple Vs. Red Apple Green Apple Vs. Red Apple
Green fluorescent protein (GFP) Green fluorescent protein (GFP)
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Chloroplast Structure & Light Dependent Reactions (Photosystem 1 and 2 Cyclic Electron Flow)

For a complete list of videos, visit our video library