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Exhibit 4.7 -In the Exhibit Given Below, a Price Floor Set at Price

Question 172

Multiple Choice

Exhibit 4.7
Exhibit 4.7 -In the Exhibit given below, a price floor set at $20.00 will _____ A) reduce the equilibrium quantity. B) lead to a surplus of 10 units. C) increase the equilibrium price. D) lead to a surplus of 20 units. E) have no impact on the equilibrium price and quantity.
-In the Exhibit given below, a price floor set at $20.00 will _____

A) reduce the equilibrium quantity.
B) lead to a surplus of 10 units.
C) increase the equilibrium price.
D) lead to a surplus of 20 units.
E) have no impact on the equilibrium price and quantity.

Correct Answer: