14. The market for apples is in equilibrium at a price of $0.50 per pound. If the government imposes a price floor in the market at a price of $0.40 per pound: a. the price floor will not affect the market price or output. b. quantity supplied will increase. c. there will be a shortage of apples. d. quantity demanded will decrease.25. The price elasticity of demand is 4, and the share of the tax borne by consumers is 20%. What is the price elasticity of supply? d.3 26. An individual only desires two goods food (F) and clothing (C). The price of food is Pf and the price of clothing is Pc. With food on the horizontal axis and clothing on the vertical axis, the slope of the budget constraint is: a. -P'Pc b. CHI: c. -Pc."Pf d. FfC