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Suppose the government sets a price floor that is above the equilibrium price for a given good. It ...

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Suppose the government sets a price floor that is above the equilibrium price for a given good. It ...

Suppose the government sets a price floor that is above the equilibrium price for a given good. It can be said that at the price floor,

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although sellers are selling all of the product that they desire at this price, the consumers are not able to buy all that they desire.

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although consumers are purchasing all of the product that they desire at this price, the sellers are not selling all that they desire.

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both sellers and buyers are satisfied with the quantity that is being exchanged.

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both sellers and buyers are exchanging the equilibrium quantity of this good.

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b and d

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Economics

Edition: 12^th

Author: Arnold

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