What is enacted when discontented sellers, feeling that prices are too low, appeal to legislators to keep prices from falling?

Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is $3, what changes in the market would result in an economically efficient output?

A) The price would decrease, the quantity supplied would increase, and the quantity demanded would decrease. B) The price would decrease, quantity demanded would increase, and quantity supplied would decrease. C) The price would decrease, the demand would increase, and the supply would decrease. D) The quantity supplied would decrease, the quantity demanded would increase, and the equilibrium price would decrease.

Refer to Table 2-13. What is Tammi's opportunity cost of bathing a cat?

A) two groomed dogs B) one and a half groomed dogs C) two-thirds of a groomed dog D) half a groomed dog