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The graph below represents the market for baskets of apples. Calculate the surplus caused by the price floor. Supply and demand for baskets of apples
The graph below represents the market for baskets of apples. Calculate the surplus caused by the price floor. Supply and demand for baskets of apples A supply and a demand curve are shown with a price floor at $32. Equilibrium price is $17 and equilibrium quantity is 25 baskets of apples. The quantity demanded at the price floor is 12 and quantity supplied is 47. Provide your answer below
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