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Refer to Figure 32-2. Suppose that producers of this good engage in rent seeking which results in the government imposing a price floor of P2.

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Refer to Figure 32-2. Suppose that producers of this good engage in rent seeking which results in the government imposing a price floor of P2. The gain in producers' surplus that occurs due to the price floor is O B + C O A +B +C+F +E O A+ B +C OC+E

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