File:European Wheat Prices - A Price Floor Example.jpg
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Summary
| Description |
English: The intersection of demand (D) and supply (S) would be at the equilibrium point E0. However, a price floor set at Pf holds the price above E0 and prevents it from falling. The result of the price floor is that the quantity supplied Qs exceeds the quantity demanded Qd. There is excess supply, also called a surplus. |
| Date | |
| Source | https://openstax.org/details/books/principles-microeconomics (CNX_Econ_C03_013.jpg) |
| Author | OpenStax College |
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 02:44, 20 September 2017 | | 390 × 347 (607 KB) | Dave Braunschweig | User created page with UploadWizard |
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