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INCREASE, DECREASE OR NO CHANGE Suppose that the federal government places a binding price floor onchocolate. To help support the price floor, the government purchases

INCREASE, DECREASE OR NO CHANGE

Suppose that the federal government places a binding price floor onchocolate. To help support the price floor, the government purchases allchocolatethat consumers do not buy. If the price floor remains in place for a number of years, what do you expect to happen to each of the following?

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