Multiple Choice
Garbanzo Beans
-Consider the above table. If the government imposes a price ceiling on garbanzo beans of $8, what would be the likely result?
A) a surplus of 2,000 garbanzo beans on the market
B) a shortage of 2,000 garbanzo beans on the market
C) Market equilibrium will be reached.
D) The quantity demanded of garbanzo beans would fall to zero.
Correct Answer:
Verified
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