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Exhibit 4-3 -Refer to Exhibit 4-3.If Price P_? Is a Price Floor,then

Question 39

Multiple Choice

Exhibit 4-3
Exhibit 4-3 -Refer to Exhibit 4-3.If price P<sub>?</sub> is a price floor,then A) the quantity exchanged is Q<sub>1</sub>. B) there is a surplus in the market for good X. C) it is the lowest price that can legally be charged in the market for good X. D) both b and c E) all of the above
-Refer to Exhibit 4-3.If price P_? is a price floor,then

A) the quantity exchanged is Q₁.
B) there is a surplus in the market for good X.
C) it is the lowest price that can legally be charged in the market for good X.
D) both b and c
E) all of the above

Correct Answer: