Exhibit 4-8 -Refer to Exhibit 4-8. Suppose That Wheat Producers Lobby the Wheat

question 57

Multiple Choice

Exhibit 4-8

-Refer to Exhibit 4-8. Suppose that wheat producers lobby the government for a price floor and receive one. This price floor is set at P_F. How many fewer units of wheat will be sold at the price floor than at the equilibrium price?

• A) Q₂ - Q₁
• B) Q₃ - Q₂
• C) Q₃ - Q₁
• D) Q₂

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