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If a price floor of $23 were placed in the market in the graph shown, what changes would you see in the market? After a
If a price floor of $23 were placed in the market in the graph shown, what changes would you see in the market?
After a price floor of $23 is placed on the market in the graph shown, the total number of units traded would be what? 20
What would total consumer surplus be? $7
What would total producer surplus be? $15
Would there be a production surplus or a production deficit and why? surplus
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