Garbanzo Beans -Consider the Above Table. If the Government Imposes a Price

Multiple Choice

Garbanzo Beans

-Consider the above table. If the government imposes a price ceiling on garbanzo beans of $8, what would be the likely result?

A) a surplus of 2,000 garbanzo beans on the market
B) a shortage of 2,000 garbanzo beans on the market
C) Market equilibrium will be reached.
D) The quantity demanded of garbanzo beans would fall to zero.