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-Refer to Table 3

Question 7

Multiple Choice

-Refer to Table 3.1. If the government imposes a price of $2, A) the price will be above equilibrium. B) the price will fall to $1 because producers will be forced to incur losses. C) demand will increase. D) a surplus equal to 20 units will result. E) a shortage equal to 20 units will result.
-Refer to Table 3.1. If the government imposes a price of $2,


A) the price will be above equilibrium.
B) the price will fall to $1 because producers will be forced to incur losses.
C) demand will increase.
D) a surplus equal to 20 units will result.
E) a shortage equal to 20 units will result.

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