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Question 5. A government study concludes that excessive alcohol consumption is due to the low price of alcohol in the market. In order to reduce

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Question 5. A government study concludes that excessive alcohol consumption is due to the low price of alcohol in the market. In order to reduce the consumption of alcohol, the government wishes to set a price floor above the equilibrium price of alcohol. Explain whether this policy would have its intended effect. What is the net loss or gain from the price floor to the consumers and suppliers

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