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7. In 1991 the price of milk fell sharply. Senator Patrick Leahy of Vermont (a big milk-producing state) got Congress to pass a law putting
7. In 1991 the price of milk fell sharply. Senator Patrick Leahy of Vermont (a big milk-producing state) got Congress to pass a law putting a price floor on the price of milk. The equilibrium price was $11.47 per hundred pounds of milk; the price floor was $13.09 per hundred pounds. What effects did this price floor have? Whom did it help? Whom did it hurt
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The Chinese Economy Transitions And Growth
Authors: Barry Naughton
1st Edition
0262640643, 9780262640640
