Exhibit 39-9 -Refer to Exhibit 39-9.Under a price support program,with the price support set at P₁,consumers will end up paying a price of A) P₁. B) P₂. C) P₃. D) P₄. E) There is not enough information to answer the question.

Question

Quizplus · Accepted Answer

Under a price support program, the government sets a minimum price for a certain product, in this case P₁. This means that consumers will have to pay at least this minimum price for the product. Therefore, the answer is A, as consumers will pay the price support set at P₁.

Exhibit 39-9 -Refer to Exhibit 39-9.Under a Price Support Program,with the Price