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AP® Microeconomics

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Price Floor in Wheat Market

APMICR-LNXRLR

If the government set a price floor of $8 in the wheat market represented in the above graph, which of the following would occur?

A

The quantity demanded would decrease by 175 bushels.

B

The quantity supplied would decrease by 75 bushels.

C

The quantity demanded would decrease by 100 bushels.

D

The quantity supplied would increase by 175 bushels.

E

The quantity supplied would increase by 100 bushels.