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-Refer to Exhibit 4-3

Question 57

Multiple Choice

-Refer to Exhibit 4-3.If price P<sub>1</sub> is a price floor,then A) the quantity exchanged is Q<sub>1.</sub> B) there is a surplus in the market for good X. C) it is the lowest price that can legally be charged in the market for good X. D) both b and c E) all of the above
-Refer to Exhibit 4-3.If price P1 is a price floor,then


A) the quantity exchanged is Q1.
B) there is a surplus in the market for good X.
C) it is the lowest price that can legally be charged in the market for good X.
D) both b and c
E) all of the above

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