If the equilibrium price of wheat is $3 per bushel and then a price floor of $2.50
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If the equilibrium price of wheat is $3 per bushel and then a price floor of $2.50 per bushel is imposed by the government,
a. there will be no effect on the wheat market.
b. there will be a shortage of wheat.
c. there will be a surplus of wheat.
d. the price of wheat will decrease.
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