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Suppose the demand for eggs is inelastic and that the market-clearing price is $1.50 per dozen. Now ...

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Suppose the demand for eggs is inelastic and that the market-clearing price is $1.50 per dozen. Now ...

Suppose the demand for eggs is inelastic and that the market-clearing price is $1.50 per dozen. Now suppose the government imposes a minimum price of $2.00 per dozen. Why might the government implement such a policy?

▸ to decrease tax revenues from egg farmers

▸ to make consumers better off

▸ to increase the incomes of egg farmers

▸ to reduce excess supply in the egg market

▸ to increase excess demand in the egg market

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Microeconomics

Edition: 17^th

Author: Ragan

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