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Price $8.00 ~“Tr=a==r- 7.00 6.00 5.00 4.00 ] ' ' ] ] ' |} ] ] ] | 0 30 40 50 Refer to Figure 4-17. Suppose a price floor of $7.00 is imposed. As a result, a. buyers' total expenditure on the good decreases by $20.00. @ b. the supply curve will shift to the left so as to now pass through the point (Q = 40, P = $7.00). c. the quantity of the good demanded decreases by 20 units. d. the price of the good continues to serve as the rationing mechanism. _Hide Feedbac ° ¥ Solution