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Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?
a. no change, equilibrium would prevail
b. The quantity demanded of garbanzo beans would fall to zero.
c. shortage of 2000 garbanzo beans
d. surplus of 2000 garbanzo beans
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In the heckscherohlin model, a decrease in the factors of production required to produce rice and beans would: a. shift the production possibilities frontier for rice and beans
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