The Government Sets a Price Floor for Corn,which Is Above

question 42

Multiple Choice

The government sets a price floor for corn,which is above the equilibrium price of corn.As a result

• A)the market for corn is efficient.
• B)a shortage of corn occurs.
• C)consumer surplus is maximized.
• D)a deadweight loss is created.
• E)B, C, and D are correct.

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