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-The Figure Above Illustrates the Bagel Market

Question 15

Multiple Choice

-The figure above illustrates the bagel market. Which of the following statements is correct? A) With no government intervention, the equilibrium price of a bagel is $2. B) With a price ceiling of $3.00 per bagel, the price of a bagel is $2. C) With a price ceiling of $1.00 per bagel, the price of a bagel is $1. D) Only answers A and B are correct. E) Answers A, B and C are correct.
-The figure above illustrates the bagel market. Which of the following statements is correct?


A) With no government intervention, the equilibrium price of a bagel is $2.
B) With a price ceiling of $3.00 per bagel, the price of a bagel is $2.
C) With a price ceiling of $1.00 per bagel, the price of a bagel is $1.
D) Only answers A and B are correct.
E) Answers A, B and C are correct.

Correct Answer:

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