If a price ceiling on coffee is set below the market-clearing price, then
A) the quantity of coffee demanded will decrease.
B) the quantity of coffee supplied will increase.
C) the quantity demanded for coffee will increase.
D) all of the above will occur.
E) none of the above will occur.
C
Economics
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Refer to Table 2-12. What is Honduras's opportunity cost of producing one sailboat?
A) 1/5 of a canoe B) 1.5 canoes C) 4 canoes D) 5 canoes
Economics
Each of the following, except one, is a characteristic of a monopolistically competitive market. Which is the exception?
a. differentiated products b. no significant barriers to entry c. many buyers d. a standardized product e. many sellers
Economics