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If the State of Minnesota Established a Price Floor in the Market

question 13

True/False

If the state of Minnesota established a price floor in the market for pumpkins that was double the current market-clearing price,this would lead to an inefficient number of pumpkins sold in Minnesota.


Definitions:

Inhibitory

Describes something that restrains, blocks, or suppresses a specific action, process, or reaction in biological or chemical systems.

Limbic System

A complex system of nerves and networks in the brain, involved in basic emotions such as fear and pleasure, and drives such as hunger and sex.

Hypothalamus

A region of the brain that regulates bodily functions including temperature, hunger, and thirst.

Thalamus

The brain's main relay station, channeling sensory and motor signals to and from the cerebral cortex.

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