Solved

Use the Following to Answer Questions

Question 1

Multiple Choice

Use the following to answer questions: Use the following to answer questions: -(Table: Market for Fried Twinkies) Use Table: Market for Fried Twinkies. Suppose the government decides to reduce fried Twinkie consumption as part of a war on obesity. After careful study, the government decides to impose a quota of 5,000 on production of fried Twinkies this year. What price will producers charge if they obey the quota law? A) $1.20 B) $1.30 C) $1.50 D) The answer cannot be determined with this information.
-(Table: Market for Fried Twinkies) Use Table: Market for Fried Twinkies. Suppose the government decides to reduce fried Twinkie consumption as part of a war on obesity. After careful study, the government decides to impose a quota of 5,000 on production of fried Twinkies this year. What price will producers charge if they obey the quota law? Use the following to answer questions: -(Table: Market for Fried Twinkies) Use Table: Market for Fried Twinkies. Suppose the government decides to reduce fried Twinkie consumption as part of a war on obesity. After careful study, the government decides to impose a quota of 5,000 on production of fried Twinkies this year. What price will producers charge if they obey the quota law? A) $1.20 B) $1.30 C) $1.50 D) The answer cannot be determined with this information.


A) $1.20
B) $1.30
C) $1.50
D) The answer cannot be determined with this information.

Correct Answer:

verifed

Verified

Related Questions

Q3: (Figure: Supply and Demand) Use Figure: Supply

Q8: (Table: Market for Butter) Use Table: Market

Q32: Suppose the United States removes its sugar

Q76: Which example is a quota?<br>A)rent controls in

Q78: Use the following to answer question: <img

Q85: Use the following to answer question: <img

Q97: The persistent unwanted surplus that results from

Q124: Rent controls in New York City do

Q134: A price ceiling will have NO immediate

Q138: By definition,in a black market,goods or services