Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Assume that a price floor of $320 has been implemented and there are
no wasteful quality improvements. What are the total gains from trade
(total surplus) with a price floor of $320?
Hint: enter your answer as a number only with no $ sign
Example: if the answer is $10,000, enter 10,000
2,400
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