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3. Suppose the government implemented a price floor at $7 per cup of coffee. a. Identify the new quantities demanded and supplied and any surplus or shortage of coffee. What will the new quantity be in the coffee market? b.What is total surplus with th

unit 7 economics in-class exercise

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3. Suppose the government implemented a price floor at $7 per cup of coffee. a. Identify the new quantities demanded and supplied and any surplus or shortage of coffee. What will the new quantity be in the coffee market? b.What is total surplus with th
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