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Use the following figure to answer the questions that follow. The accompanying figure describes the market...

Use the following figure to answer the questions that follow. The accompanying figure describes the market for gasoline in a local community. If the government were to place a price floor at P3, predict the resulting surplus or shortage. There would be a shortage of 75,000 units. There would be neither a shortage nor a surplus. There would be a surplus of 75,000 units. There would be a shortage of 150,000 units. There would be a surplus of 150,000 units.

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