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Exhibit 4-10  Supply and Demand Data for Apricots Which of the Following

Question 257

Multiple Choice

Exhibit 4-10  Supply and demand data for apricots Exhibit 4-10  Supply and demand data for apricots Which of the following would occur if the government set a price ceiling of $1 in the market shown in Exhibit 4-10? A) There would be a shortage of apricots. B) Buyers would not want to purchase all of the apricots that are supplied. C) There would be a surplus of apricots. D) Farmers would reduce the number of acres allocated to the growing of apricots. Which of the following would occur if the government set a price ceiling of $1 in the market shown in Exhibit 4-10?


A) There would be a shortage of apricots.
B) Buyers would not want to purchase all of the apricots that are supplied.
C) There would be a surplus of apricots.
D) Farmers would reduce the number of acres allocated to the growing of apricots.

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