Suppose the government sets a price floor of $3.50 per bushel on corn when the current

Name: Suppose the government sets a price floor of $3.50 per bushel on corn when the current
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Question

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A price floor set above the equilibrium price causes a surplus because it increases the price at which corn must be sold, leading to a situation where the quantity supplied exceeds the quantity demanded.

Suppose the Government Sets a Price Floor of $3