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Use the Following to Answer Question

Question 89

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Use the following to answer question:
Figure: The Market for Tortillas Use the following to answer question: Figure: The Market for Tortillas   -(Figure: The Market for Tortillas)  Look at the figure The Market for Tortillas. With a nonbinding price floor, the price could be equal to _____, consumers would demand _____, and producers would supply _____. A)  P<sub>1</sub>; Q<sub>1</sub>; Q<sub>3</sub> B)  P<sub>2</sub>; Q<sub>2</sub>; Q<sub>2</sub> C)  P<sub>1</sub>; Q<sub>3</sub>; Q<sub>1</sub> D)  P<sub>3</sub>; Q<sub>2</sub>; Q<sub>1</sub>
-(Figure: The Market for Tortillas) Look at the figure The Market for Tortillas. With a nonbinding price floor, the price could be equal to _____, consumers would demand _____, and producers would supply _____.


A) P1; Q1; Q3
B) P2; Q2; Q2
C) P1; Q3; Q1
D) P3; Q2; Q1

Correct Answer:

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