-In the above figure, a black market emerges with a

Name: -In the above figure, a black market emerges with a
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Question

Quizplus · Accepted Answer

The correct answer is C because the price floor is set at $4, which means that the government will buy any excess supply at that price. This will create a surplus of the good, which will drive the market price down to the price floor.

-In the Above Figure, a Black Market Emerges with a