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In This Market, Economists Would Call a Government-Set Minimum Price

Question 212

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 Quantity Demanded  Price  Quantity Supplied 52$5073624562724051823542923033\begin{array} { | c | c | c | } \hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \\\hline 52 & \$ 50 & 73 \\\hline 62 & 45 & 62 \\\hline 72 & 40 & 51 \\\hline 82 & 35 & 42 \\\hline 92 & 30 & 33 \\\hline\end{array} In this market, economists would call a government-set minimum price of $50 a


A) price ceiling.
B) price ?oor.
C) equilibrium price.
D) fair price.

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