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Consider the supply and demand model for romaine lettuce depicted in the accompanying graph. Suppose the government decides to impose a binding price floor on
Consider the supply and demand model for romaine lettuce depicted in the accompanying graph. Suppose the government decides to impose a binding price floor on the market to aid farmers. D Macmillan Leaming a. Please place the end points of the price floor line segment to illustrate a binding price floor in the market. Market for Romaine Lettuce DWL Price Floor b. After the price floor is implemented, what exists?b. After the price floor is implemented, what exists? both neither O a shortage O a surplus
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