13.Which of the following will NOT reduce actual consumption of premium Ice Cream?
- An excise tax of $0.50 on every pint of ice cream.
- Increased consumer fears about the danger of sugar.
- An effective price ceiling of $1.00 imposed by the government.
- An effective price floor of $5.00 imposed by the government.
- An increase in the price of frozen yogurt, (a substitute for ice
cream).
|
Supply and Demand for Ice Cream |
Price |
Q. Demanded |
Q. Supplied |
$1.00 |
100 |
25 |
$2.00 |
95 |
50 |
$3.00 |
90 |
75 |
$4.00 |
85 |
100 |
$5.00 |
80 |
125 |
|