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The figure to the right illustrates the market for apples in which the government has imposed a price floor of $13 per crate. 207 How
The figure to the right illustrates the market for apples in which the government has imposed a price floor of $13 per crate. 207 How many crates of apples will be sold after the price floor has been 18- imposed? |million crates of apples per year. (Enter your response 16- as an integer.) Supply 14- Will there be a shortage or surplus? If there is a shortage or surplus, 12- how large will it be? Price 10- There will be a of million crates of apples per year. (Enter your response as an integer.) 6- Will apple producers benefit from the price floor? O A. Apple producers who are able to sell their apples at the $13 N price per crate will benefit. Demand .. ... O B. Apple producers who are not able to sell their apples will not o 312 16 20 24 28 32 36 40 benefit. Quantity (millions of crates per year) O C. Total revenue for apple producers as a group will decrease from $200 million to $182 million. O D. Both a and b. O E. All of the above
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