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Figure 6-7 -Refer to Figure 6-7.Suppose a Price Floor of $8 Is

Question 107

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Figure 6-7 Figure 6-7 -Refer to Figure 6-7.Suppose a price floor of $8 is imposed on this market.As a result, A) buyers' total expenditure on the good decreases by $20. B) the supply curve shifts to the left;quantity sold is now 30 units and the price is $8. C) the quantity of the good demanded decreases by 10 units. D) the price of the good continues to serve as the rationing mechanism.
-Refer to Figure 6-7.Suppose a price floor of $8 is imposed on this market.As a result,


A) buyers' total expenditure on the good decreases by $20.
B) the supply curve shifts to the left;quantity sold is now 30 units and the price is $8.
C) the quantity of the good demanded decreases by 10 units.
D) the price of the good continues to serve as the rationing mechanism.

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