Figure 6-5
-Refer to Figure 6-5.If the government imposes a price floor of $5 on this market,then the result is a

Name: Figure 6-5 -Refer to Figure 6-5.If the government imposes a price floor of $5 on this market,then the result is a
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Question

Figure 6-5 
-Refer to Figure 6-5.If the government imposes a price floor of $5 on this market,then the result is a

Quizplus · Accepted Answer

With a price floor of $5, the quantity supplied would be 80 units (point E on the graph) while the quantity demanded would be only 50 units (point A on the graph). This creates a surplus of 30 units (80-50=30).

Figure 6-5 -Refer to Figure 6-5.If the Government Imposes a Price Floor