Use the Following to Answer Question(s): Supply and Demand in Agriculture

question 13

Multiple Choice

Use the following to answer question(s) : Supply and Demand in Agriculture

-(Exhibit: Supply and Demand in Agriculture) To help farmers:

• A) a price floor would be set at P₄, causing a surplus of Q₃ - Q₀.
• B) a price floor would be set at P₂, causing a surplus of Q₂ - Q₀.
• C) a price ceiling would be set at P₄, causing a surplus of Q₂ - Q₁.
• D) a price floor would be set at P₁, causing a shortage of Q₃ - Q₀.

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Definitions:

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