1.09 - Question 1 (Worth 3 points) Which of the following...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 (Worth 3 points) Which of the following will occur if the government institutes an effective price floor on strawberries? There will be an increase in demand for and a decrease in supply of strawberries. The quantity supplied of strawberries will increase. There will be an increase in demand for strawberries. The quantity demanded for strawberries will increase. Points earned on this question : 0 Question 2 (Worth 3 points) When the government sets an effective price floor there will be an increase in demand. there will be a decrease in supply. there will be a decrease in demand. neither supply nor demand will change. Points earned on this question : 0 Question 3 (Worth 3 points) Which of the following will occur if the government institutes an effective price
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ceiling on ice cream? There will be an increase in supply of ice cream. There will be an increase in demand for ice cream. The quantity demanded will be greater than the quantity supplied of ice cream.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/15/2011 for the course ECON 101 taught by Professor Dannicatambay during the Fall '08 term at UPenn.

Page1 / 3

1.09 - Question 1 (Worth 3 points) Which of the following...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online