Business

21 July, 13:11

If the government guarantees sugar farmers a price of $1 per pound when the market equilibrium price is actually $0.50 per pound, which of the following will occur?

A shortage of sugar will occur, increasing inefficiency.

A surplus of sugar will occur, decreasing inefficiency.

A shortage of sugar will occur, decreasing inefficiency.

A surplus of sugar will occur, increasing inefficiency.

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