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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
n 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession l
The study of the overall aspects and workings of a national economy is like as income, output, and the interrelationship between diverse economic sectors. It is the study of all as
Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
define production function output effect?
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