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-Consider the Above Table

Question 95

Multiple Choice

-Consider the above table. Assuming the government imposes a price ceiling on garbanzo beans of $4, what would be the likely result? A) a surplus of 2,000 garbanzo beans B) a shortage of 2,000 garbanzo beans C) no change, equilibrium would prevail D) The quantity demanded of garbanzo beans would fall to zero.
-Consider the above table. Assuming the government imposes a price ceiling on garbanzo beans of $4, what would be the likely result?


A) a surplus of 2,000 garbanzo beans
B) a shortage of 2,000 garbanzo beans
C) no change, equilibrium would prevail
D) The quantity demanded of garbanzo beans would fall to zero.

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