-The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 30 million pounds of coffee per month is ________.
A) maximum; $2.50
B) minimum; $2.50
C) maximum; $4.00
D) minimum; $4.00

Question

-The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 30 million pounds of coffee per month is ________.
A) maximum; $2.50 
B) minimum; $2.50 
C) maximum; $4.00 
D) minimum; $4.00

Quizplus · Accepted Answer

The minimum price producers must be offered to produce 30 million pounds of coffee is $4.00, as this is the price at which the supply curve intersects the quantity of 30 million pounds.

-The Figure Above Shows the Market for Coffee