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Which of the variables (consumer surplus, producer surplus, and deadweight loss) have increased due to the price floor of $9.00 set by the government? Price
Which of the variables (consumer surplus, producer surplus, and deadweight loss) have increased due to the price floor of $9.00 set by the government? Price (wage per hour) $15.00 $14.00 $13.00 $12.00 Consumer Surplus $11.00 Supply $10.00 $9.00 Deadweight Minimum $8.00 Producer Loss Price $7.00 Surplus $6.00 Producer $5.00 Surplus $4.00 $3.00 $2.00 $1.00 Demand $0.00 0 2 3 4 5 6 7 8 10 11 12 13 14 15 Quantity Of Workers (in millions) X a.) Consumer surplus and producer O surplus b.) Producer surplus and deadweight O loss c.) Only deadweight loss d.) Consumer surplus and deadweight O loss
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