Multiple Choice
-Refer to the above figure. Other things being equal, when the government imposes a price floor at P2, then we would expect
A) the quantity demanded is Q2.
B) a surplus will occur.
C) price to decline until an equilibrium is achieved at P0.
D) consumers to bid against each other for goods and force the price even higher.
Correct Answer:

Verified
Correct Answer:
Verified
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