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suppose that an unanticipated bout of good weather results in almost ideal growing conditions, leading to a substantial increase in the supply of wheat in the united states. suppose the u.s. government observes that the price of wheat is likely to fall rapidly and imposes a price floor equal to the original equilibrium price. how are consumer and producer surplus affected by the price floor? responses both consumer and producer surplus increase. both consumer and producer surplus increase. both consumer and producer surplus are reduced. both consumer and producer surplus are reduced. consumer surplus is reduced and producer surplus is increased. consumer surplus is reduced and producer surplus is increased. consumer surplus is increased and producer surplus is reduced. consumer surplus is increased and producer surplus is reduced.

User Kevin Law
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Answer:A

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User God
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