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Loraine Loraine
wrote...
Posts: 9130
4 years ago
Suppose the equilibrium price of a gallon of milk is $4. If the government imposes a price floor of $5 per gallon of milk,
A) the quantity supplied of milk exceeds the quantity demanded.
B) the quantity supplied of milk falls short of the quantity demanded.
C) the supply increases.
D) the market will not be affected.
E) there will be a shortage of milk.
Textbook 

Essential Foundations of Economics


Edition: 7th
Authors:
Read 199 times
3 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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VincenzoDVincenzoD
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Posts: 3824
4 years ago
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wrote...
4 years ago
Wow, this is exactly what I needed Grinning Face
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
wrote...
4 years ago
Think nothing of it!
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