Use the following to answer question :
-(Table: Market for Butter)Use Table: Market for Butter.If the government imposes a price ceiling of $0.90 per kilogram of butter,the quantity of butter actually purchased will be _____ million kilograms.
A) 10.5
B) 9.0
C) 1.5
D) 10.0

Question

Use the following to answer question : 
-(Table: Market for Butter)Use Table: Market for Butter.If the government imposes a price ceiling of $0.90 per kilogram of butter,the quantity of butter actually purchased will be _____ million kilograms.
A) 10.5 
B) 9.0 
C) 1.5 
D) 10.0

Quizplus · Accepted Answer

A price ceiling of $0.90 per kilogram is below the equilibrium price, leading to a shortage. The quantity purchased will be the quantity supplied at that price, which is 9.0 million kilograms.

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