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What Would Happen to Quantity Demanded and Quantity Supplied If

Question 196

Multiple Choice

What would happen to quantity demanded and quantity supplied if a price floor is set above equilibrium price?  


A)  Quantity supplied will be less than quantity demanded at the set price. 
B)  Quantity supplied will be equal to quantity demanded at the set price. 
C)  At the set price there will be a shortage. 
D)  Quantity supplied will exceed quantity demanded at the set price.

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