P₁ P₂ P3 A B F V C ¡G Q₁ M T K I N Q2 Q3 R S D

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 47CTQ: Agricultural price supports result in governments holding large inventories of agricultural...
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QUESTION 16

  1. What areas of the diagram above represent the surplus transferred from consumers to producers with a price floor of P1? Select all that apply
       
    A
       
    B
       
    C
       
    F
       
    G
       
    T
       
    none of these
P₁
P₂
P3
A
B
F
V
C
¡G
Q₁
M
T
K
I
N
Q2 Q3
R
S
D
Transcribed Image Text:P₁ P₂ P3 A B F V C ¡G Q₁ M T K I N Q2 Q3 R S D
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