question archive If the equilibrium price of rice is $2
If the equilibrium price of rice is $2
Subject:BusinessPrice:1.87 Bought7
If the equilibrium price of rice is $2.00 per pound and government imposes a ceiling on the price of rice of $1.75 per pound, the market (or marginal) value of each pound of rice with the price ceiling in place will be
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$2.00 per pound |
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$1.75 per pound |
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more than $2.00 per pound |
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less than $1.75 per pound |
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Ans - C) more than $2.00 per pound
