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160 - TPrice 150+ 140-+ 130 - 120- Supply 110+ 100 + 90 -+ 80+ 70+ 60+ 50 - Demand 40 + 30 - 20

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160 - TPrice 150+ 140-+ 130 - 120- Supply 110+ 100 + 90 -+ 80+ 70+ 60+ 50 - Demand 40 + 30 - 20 - 10 - 10 11 12 13 14 Quantity 32. Refer to Figure 3. If the government imposes a price floor of $120 in this market, the producer surplus would be A. $150 B. $200 C. $250 D. $300 E. $600

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