12 11 10 9 8 7 S 6 S 4 3 2 1 10 20 30 40 50 60 70 80 90 100 110 120 2 Consider that the graph above represents the market for avocados. Suppose that the government imposes a price floor of $4. What is the expected market outcome? None of these answers. 00 There will be a deadweight loss of 15 avocados. There will be a surplus of 30 avocados. There will be a shortage of 30 avocados.
12 11 10 9 8 7 S 6 S 4 3 2 1 10 20 30 40 50 60 70 80 90 100 110 120 2 Consider that the graph above represents the market for avocados. Suppose that the government imposes a price floor of $4. What is the expected market outcome? None of these answers. 00 There will be a deadweight loss of 15 avocados. There will be a surplus of 30 avocados. There will be a shortage of 30 avocados.
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 15PAE
Question
![12
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Consider that the graph above represents the market for avocados. Suppose that the government imposes a price floor of $4. What is the expected market outcome?
None of these answers.
00
There will be a deadweight loss of 15 avocados.
There will be a surplus of 30 avocados.
There will be a shortage of 30 avocados.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e4b294e-bb50-4d90-a49d-be6f7c3ce8b7%2F06abe01a-6ba5-4913-a717-21716761bb2c%2F3ilq4u_processed.jpeg&w=3840&q=75)
Transcribed Image Text:12
11
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9
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7
S
6
S
4
3
2
1
10 20 30 40 50 60 70 80 90 100 110 120 2
Consider that the graph above represents the market for avocados. Suppose that the government imposes a price floor of $4. What is the expected market outcome?
None of these answers.
00
There will be a deadweight loss of 15 avocados.
There will be a surplus of 30 avocados.
There will be a shortage of 30 avocados.
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