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Assume a Price Floor Is Imposed at the Current Equilibrium

Question 46

Multiple Choice

Assume a price floor is imposed at the current equilibrium price in the market for lettuce. If the demand for lettuce then increases, what will result?


A) The quantity of lettuce traded remains the same.
B) A shortage of lettuce will be created.
C) A surplus of lettuce will be created.
D) The quantity of lettuce supplied will increase.

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