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Suppose a Price Floor Is Set at $10 in the Market

Question 73

Multiple Choice

Suppose a price floor is set at $10 in the market shown in the graph. Which of the following statements is true? A) A shortage of five units occurs B) Excess supply of five units occurs C) Total surplus increases D) Deadweight loss falls Suppose a price floor is set at $10 in the market shown in the graph. Which of the following statements is true?


A) A shortage of five units occurs
B) Excess supply of five units occurs
C) Total surplus increases
D) Deadweight loss falls

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