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Which of the following is NOT true about price floors? a. Quantity produced will be lower than that in a competitive market. b. Price floors

Which of the following is NOT true about price floors?

a. Quantity produced will be lower than that in a competitive market.

b. Price floors lead to a deadweight loss.

c. Price floors only have negative effects.

d. Consumer surplus decreases compared to the competitive equilibrium.

e.Producer surplus could be lower, higher, or the same as it would be in competitive equilibrium.

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