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Question 118

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Use the following to answer questions:
Figure: The Market for Butter Use the following to answer questions: Figure: The Market for Butter -(Figure: The Market for Butter) Look at the figure The Market for Butter. If a government price floor at $1.30 is imposed on this market, an inefficiency will result in the form of a _____ of _____ million pounds of butter. A) surplus; 4.5 B) surplus; 6.0 C) shortage; 6.0 D) shortage; 4.5
-(Figure: The Market for Butter) Look at the figure The Market for Butter. If a government price floor at $1.30 is imposed on this market, an inefficiency will result in the form of a _____ of _____ million pounds of butter.


A) surplus; 4.5
B) surplus; 6.0
C) shortage; 6.0
D) shortage; 4.5

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