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A price floor creates an excess supply, and society needs to decide how to deal with this excess supply. Which one of the following are
A price floor creates an excess supply, and society needs to decide how to deal with this excess supply. Which one of the following are possible ways to deal with this excess supply?
- A.The suppliers should decide who should be able to obtain the product.
- B.The government should decide who should be able to obtain the product.
- C.Buyers should be placed on a waiting list.
- D.A production quota system should be implemented whereby the government would limit the production of the product.
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