Multiple Choice
Exhibit 16-5 
Exhibit 16-5 represents the market for leaf tobacco.Suppose the government imposes a floor of $1.25 in this market.In order to maintain this price the government will need to buy how many pounds of tobacco?
A) $900
B) $975
C) $1050
D) $1125
E) $1200
Correct Answer:
Verified
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