equilibrium price wil fell and equibrum quantity will ise

Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
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Suppose state governiments, in an attempt to help save family farms, issued licenses that ellowed family tarms to grow a heretofore-tiegai substence Asa result, in the mariker for ms
substance
Multiple Choice
equilibrum pnice will fal and equlibrum qusntity will se
both equibrum price and quentity wil fal
both equilibrum price and quentity will rise
equilibrium price wil riae and equilibrium quentity wil fall
Transcribed Image Text:Suppose state governiments, in an attempt to help save family farms, issued licenses that ellowed family tarms to grow a heretofore-tiegai substence Asa result, in the mariker for ms substance Multiple Choice equilibrum pnice will fal and equlibrum qusntity will se both equibrum price and quentity wil fal both equilibrum price and quentity will rise equilibrium price wil riae and equilibrium quentity wil fall
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