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saveliy_v [14]
3 years ago
8

f a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy ___

__ units of the good and spend a total amount of _____ on its purchase.
Business
1 answer:
zlopas [31]3 years ago
8 0

If a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy <u>10</u> units of the good and spend a total amount of <u>$150</u> on its purchase.

<u>Explanation</u>:

According to the given figure, a surplus of the good will result if the price is $15. The government has a total amount of $150. If it decides to spend the total amount on purchasing, the government should buy 10 units of goods.

As the price of each good is $15 and the total amount with the government is $150.

On calculating with the given information,

150/15= 10

So the government can buy 10 units of goods for the total amount of $150.

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