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Using the Graph Below, Analyse the Effect a $70 Price

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Using the graph below, analyse the effect a $70 price floor would have on the market for tennis shoes.Would this be a binding price floor? Why would policymakers choose to impose a price floor? Using the graph below, analyse the effect a $70 price floor would have on the market for tennis shoes.Would this be a binding price floor? Why would policymakers choose to impose a price floor?


Definitions:

XY

A chromosomal designation for male sex in many organisms, including humans, where males typically have one X and one Y chromosome.

SRY Gene

A sex-determining gene on the Y chromosome that triggers the development of male anatomical features.

Androgen Insensitivity Syndrome

A condition in which a person who is genetically male is resistant to male hormones (called androgens), leading to the development of female physical traits despite having a male genetic makeup.

Klinefelter Syndrome

A genetic condition affecting males, characterized by an additional X chromosome, which can lead to developmental differences and infertility.

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