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Business, 25.03.2021 04:20 bcruz310

d) After the price floor is instituted, the legal minimum price that can be charged by suppliers is $70 per barrel. The maximum price that a few of the consumers are still willing to pay is $100 per barrel of gosum berries. With the price floor at $70 per barrel, consumers buy 300 barrels of gosum berries per month. How much consumer surplus is created with the price floor?

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d) After the price floor is instituted, the legal minimum price that can be charged by suppliers is...
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