he market equilibrium price for lettuce is $2 per pound.  The market equilibrium quantity for lettuce is 30,000 pounds of lettuce.  The government decideds to impose a price floor of $3 per pound of lettuce.  After the price floor is imposed, the quantity of lettuce supplied will be _____ 30,000 pounds and the quantity of lettuce demanded will be ______ 30,000.  The price floor causes a ____ in the market for lettuce. greater than less than surplus equal to shortage

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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he market equilibrium price for lettuce is $2 per pound.  The market equilibrium quantity for lettuce is 30,000 pounds of lettuce.  The government decideds to impose a price floor of $3 per pound of lettuce.  After the price floor is imposed, the quantity of lettuce supplied will be _____ 30,000 pounds and the quantity of lettuce demanded will be ______ 30,000.  The price floor causes a ____ in the market for lettuce.

greater than
less than
surplus
equal to
shortage
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