Figure 6-35
-Refer to Figure 6-35.A price floor set at $60 would create a surplus of 20 units.

Name: Figure 6-35 -Refer to Figure 6-35.A price floor set at $60 would create a surplus of 20 units.
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Question

Figure 6-35 
-Refer to Figure 6-35.A price floor set at $60 would create a surplus of 20 units.

Quizplus · Accepted Answer

A price floor set above the equilibrium price results in a surplus, as the quantity supplied exceeds the quantity demanded. If the equilibrium price is below $60, a surplus of 20 units can occur.

Figure 6-35 -Refer to Figure 6-35.A Price Floor Set at $60 Would