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The diagram below shows the market for an agricultural product. Now suppose the government sets a price floor of $160 per 100 bushels for

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The diagram below shows the market for an agricultural product. Now suppose the government sets a price floor of $160 per 100 bushels for this agricultural product. a. Determine the quantity demanded and quantity supplied for this product with a price support in place. Instructions: Use the tool provided 'QD' to indicate the quantity demanded if there is a price floor of $160 per 100 bushels. Then use the tool provided 'Qs' to indicate the quantity supplied if there is a price floor of $160 per 100 bushels. Price per 100 bushels ($) $240 $220 $200 $180 560 $140 520 Sloo $80 $60 $40 $20 Tools Supply (600.185) Demand 100 200 300 400 500 Quantity (100 bushels) 600

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