Refer to Exhibit 5-9

Multiple Choice

Refer to Exhibit 5-9. If the government were to remove a $3.50 price floor in the milk market, the result would be:

A) ​a decrease in price and increase in the quantity of milk supplied.
B) ​a decrease in price and increase in the quantity of milk demanded.
C) ​an increase in both price and the quantity of milk supplied.
D) ​an increase in both price and the quantity of milk demanded.