QUESTION: Suppose that the price of a 1-pound bag of standard coffee is $8 and the price
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QUESTION: Suppose that the price of a 1-pound bag of standard coffee is $8 and the price of a 1-pound bag of fair-trade coffee is $12. Congress decides to impose a price floor of $10 per pound on all 1-pound bags of coffee. What will most likely happen?
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