After a Price Floor of $23 Is Placed on the Market

question 119

Multiple Choice

After a price floor of $23 is placed on the market in the graph shown, the total number of units traded:

• A) falls by 20 relative to equilibrium.
• B) falls by 27 relative to equilibrium.
• C) falls by 37 relative to equilibrium.
• D) increases by 10 relative to equilibrium.

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