-The above figure shows the market for apples.If a consumer group convinces the government to set a maximum price of $2 per pound,then
A) 300 pounds of apples will be sold at $2.
B) no apples will be supplied.
C) no apples will be demanded.
D) None of the above.

Question

-The above figure shows the market for apples.If a consumer group convinces the government to set a maximum price of $2 per pound,then
A) 300 pounds of apples will be sold at $2. 
B) no apples will be supplied. 
C) no apples will be demanded. 
D) None of the above.

Quizplus · Accepted Answer

If the maximum price is set below the equilibrium price, suppliers may not be willing to supply any apples at that price, leading to a shortage.

-The Above Figure Shows the Market for Apples