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Use the Following Table to Answer the Next Two Questions

Question 1

Multiple Choice

Use the following table to answer the next two questions.
Use the following table to answer the next two questions. -The government has imposed a price control for many agricultural products in an effort to support farmers.In the case of price floor P₂ in the accompanying figure,how much of a disequilibrium in quantity exists? A) a shortage of 30,000 units B) a surplus of 120,000 units C) 30,000 units D) a surplus of 30,000 units E) an excess of $3
-The government has imposed a price control for many agricultural products in an effort to support farmers.In the case of price floor P₂ in the accompanying figure,how much of a disequilibrium in quantity exists?
Use the following table to answer the next two questions. -The government has imposed a price control for many agricultural products in an effort to support farmers.In the case of price floor P₂ in the accompanying figure,how much of a disequilibrium in quantity exists? A) a shortage of 30,000 units B) a surplus of 120,000 units C) 30,000 units D) a surplus of 30,000 units E) an excess of $3


A) a shortage of 30,000 units
B) a surplus of 120,000 units
C) 30,000 units
D) a surplus of 30,000 units
E) an excess of $3

Correct Answer:

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