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Figure 6-7 -Refer to Figure 6-7.Suppose a Price Floor of $7 Is

Question 105

Multiple Choice

Figure 6-7
Figure 6-7 -Refer to Figure 6-7.Suppose a price floor of $7 is imposed on this market.As a result, A) buyers' total expenditure on the good decreases by $20. B) the supply curve shifts to the left so as to now pass through the point (quantity = 40, price = $7) . C) the quantity of the good demanded decreases by 20 units. D) the price of the good continues to serve as the rationing mechanism.
-Refer to Figure 6-7.Suppose a price floor of $7 is imposed on this market.As a result,


A) buyers' total expenditure on the good decreases by $20.
B) the supply curve shifts to the left so as to now pass through the point (quantity = 40, price = $7) .
C) the quantity of the good demanded decreases by 20 units.
D) the price of the good continues to serve as the rationing mechanism.

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