The market price of tilapia

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Reference no: EM13818110

If the market price of tilapia is $1.60 per pound but the government will not allow tilapia farmers to charge more than $1.20 per pound of tilapia, which of the following will happen?

A) There will be an excess supply of tilapia.

B) The market will be in equilibrium at a price of $1.00.

C) The supply curve for tilapia will shift to the left.

D) There will be an excess demand for tilapia.

Reference no: EM13818110

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