Figure 7-15 -Refer to Figure 7-15.If the Government Imposes a Price Floor

Multiple Choice

Figure 7-15

-Refer to Figure 7-15.If the government imposes a price floor of $60 in this market,then total surplus will be

A) higher by $57.50 than it would be without the price floor.
B) lower by $20.00 than it would be without the price floor.
C) lower by $45.00 than it would be without the price floor.
D) lower by $62.50 than it would be without the price floor.