Wgu 089 - Study guides, Class notes & Summaries

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WGU 089 Module 4-Solved 100%
  • WGU 089 Module 4-Solved 100%

  • Exam (elaborations) • 5 pages • 2023
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  • What is the price floor? Based on the information in the table below, when a price floor is set at $4 Price Quantity Demanded (units/month) Quantity Supplied (units/month) $1 125 25 $2 100 50 $3 75 75 $4 50 100 $5 25 125 - ANSWER-A price floor is to keep a price from falling below a certain price. AT $4 consumers want to purchase 50 units/ month, and Suppliers are willing to bring 100 units/ month to the market. This creates a surplus of 50units/month. Prices are not able to fall, so th...
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