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Suppose that in the figure to the right, the government raises the floor price of milk above the displayed $1.50-per-litre floor price to $1.75
Suppose that in the figure to the right, the government raises the floor price of milk above the displayed $1.50-per-litre floor price to $1.75 per litre. Will the excess quantity of milk supplied increase or decrease as a consequence? million At the floor price of $1.50 per litre, the excess quantity of milk supplied is hectolitres per annum. If the government raises the floor price of milk from $1.50 per litre to $1.75 per litre, the excess quantity of milk supplied will (Enter your response as a whole number.) This question: 2 point(s) possible Price per Litre ($) 1.50 1.00 E Submi O G D 25 32 Millions of Hectolitres of Milk per Annum
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