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The Following Graph Shows the Market for Wool

question 120

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The following graph shows the market for wool. Suppose the government introduces a variety of policies that set floor prices for wool at $6. If the government decides to buy the surplus wool generated by the price floor, then they have to spend _____ per year on wool.​ ​
Figure 16.2

The following graph shows the market for wool. Suppose the government introduces a variety of policies that set floor prices for wool at $6. If the government decides to buy the surplus wool generated by the price floor, then they have to spend _____ per year on wool.​ ​ Figure 16.2 ​   A) $540 million B) $360 million C) $600 million D) $900 million E) $300 million

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