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20 July, 11:33

The government sets the price of subsidized corn too low. Which of the following statements describes the result?

At that price, quantity demanded exceeds quantity supplied.

At that price, quantity demanded equals quantity supplied.

At that price, quantity demanded is lower than quantity supplied.

At that price, quantity demanded and quantity supplied reach a price floor.

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Answers (1)
  1. 20 July, 12:17
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    Because the price of the corn is very low many people will decide to go for it. Thus, the result will be that the quantity demanded for will exceed the quantity supplied.
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