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Question 3

Multiple Choice

Use the following to answer questions:
Figure: Market I Use the following to answer questions: Figure: Market I -(Figure: Market I) Look at the figure Market I. If a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy _____ units of the good and spend a total amount of _____ on its purchase. A) 5; $75 B) 10; $150 C) 9; $135 D) 9; $81
-(Figure: Market I) Look at the figure Market I. If a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy _____ units of the good and spend a total amount of _____ on its purchase.


A) 5; $75
B) 10; $150
C) 9; $135
D) 9; $81

Correct Answer:

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