-Consider the above table. Assuming the government imposes a price floor on strawberries of $8 per pound, what would be the likely result?

Question

Quizplus · Accepted Answer

A price floor set above the equilibrium price (which is not specified in the question but implied to be below $8) would result in a surplus because the price floor would increase the price above the equilibrium, leading to less quantity demanded and more quantity supplied than at the equilibrium price.

-Consider the Above Table