The figure illustrates the market for apples in which the government has imposed
ID: 1118349 • Letter: T
Question
The figure illustrates the market for apples in which the government has imposed a price floor of $10 per crate How many crates of apples will be sold after the price floor has been imposed? apples for deer. million crates of Will there be a shortage or surplus? If there isa shortage or surplus, how large will it be? There will be a ofmlion million crates of apples per year. Will apple producers benefit from the price floor? A. Apple producers who are able to sell their apples at the $10 price for crate will benefit. B. Apple producers who were not able to sell their apples will not benefit. C. Total revenue for Apple producers as a group will decrease from one $162 million to $160 million D. Both A and B E. All of the above.Explanation / Answer
16 million crates will be sold at price=10
There will be surplus of 6millions of crates per year
All the above 3 statement are correct.
Thus ans is D