If the equilibrium price of corn is $3 a bushel, and the government imposes a floor of
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If the equilibrium price of corn is $3 a bushel, and the government imposes a floor of $4 a bushel, the price of corn will ______.
a) increase to $4
b) remain at $3
c) rise to about $3.50
d) be impossible to determine
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The correct answer is a increase to 4 Explanation A price floor is a governmentimposed minimum price ...View the full answer
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