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Figure: Understanding Price Ceilings and Floors
-(Figure: Understanding Price Ceilings and Floors)In the graph,if the government sets a price of $25,there is a surplus of 600.

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Use the following to answer questions 
Figure: Understanding Price Ceilings and Floors 
-(Figure: Understanding Price Ceilings and Floors)In the graph,if the government sets a price of $25,there is a surplus of 600.

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A surplus occurs when the price is set above the equilibrium price, leading to quantity supplied exceeding quantity demanded. Without the graph, we cannot determine if $25 causes a surplus of 600.

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