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Which of the Following Observations Would Be Consistent with the Imposition

Question 153

Multiple Choice

Which of the following observations would be consistent with the imposition of a binding price floor on a market? After the price floor becomes effective,


A) a smaller quantity of the good is bought and sold.
B) a larger quantity of the good is demanded.
C) a smaller quantity of the good is supplied.
D) the price falls below the equilibrium price.

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