Figure 9.1.3
-Refer to Figure 9.1.3 above. If the government establishes a price ceiling of $1.00, how many pounds of berries will be sold?
A) 200
B) 300
C) 400
D) 600
E) 800

Question

Figure 9.1.3
-Refer to Figure 9.1.3 above. If the government establishes a price ceiling of $1.00, how many pounds of berries will be sold?
A) 200 
B) 300 
C) 400 
D) 600 
E) 800

Quizplus · Accepted Answer

At a price ceiling of $1.00, the quantity demanded is 400 pounds, but the quantity supplied is only 200 pounds. Therefore, the quantity sold will be 200 pounds.

Figure 9.1.3 -Refer to Figure 9.1.3 Above. If the Government Establishes a Establishes