Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, how many pounds of berries will be sold?

A) 200
B) 300
C) 400
D) 600
E) 800


A

Economics

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Compared to an open economy without a tariff, the amount of imported sugar will drop from ________ tons to ________ tons after the tariff is imposed. 

A. 80; 40 B. 60; 30 C. 40; 20 D. 20; 10

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Refer to the above table. If opportunity costs are constant, then the United States and Mexico will produce goods in which they have a comparative advantage and trade at a rate of exchange of

A) 4 computers for 1 bicycle. B) 6 computers for 1 bicycle. C) 0.1 computer for 1 bicycle. D) 1 computer for 1 bicycle.

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Scarce goods are: a. desirable and unlimited in amount

b. undesirable and unlimited in amount. c. desirable and limited in amount. d. undesirable and limited in amount.

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If the demand curve is perfectly elastic, the elasticity coefficient is ____ and the curve is ____

a. zero, vertical b. infinity, horizontal c. zero, horizontal d. infinity, vertical

Economics