Question

The equilibrium price for burgers is at $5. The government imposes a price floor at $4....

The equilibrium price for burgers is at $5. The government imposes a price floor at $4. This will lead to

Group of answer choices

A shortage of burgers

No change in the quantity of burgers

No answer text provided.

A surplus of burgers

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Homework Answers

Answer #2

Equilibrium is created where the intersection of supply and demand occurs

The price corrsponding to eqilibrium is called equilibrium price and quantity corresponding to equilibrium is equilibrium quantity

From the given figure equilibrium price five $5 and government price floor impose is 4 dollars

it means there will be shortage in the market due to excess demand as conpared to supply

Answer is shortage of burgers

answered by: anonymous
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