Refer to the table above. What is the market demand for wine when the price is $3?

What are some of the long-run costs of tariffs?

What will be an ideal response?

A price floor on corn would have the effect of

a. creating a surplus regardless of the level at which the price floor is set b. creating a surplus supply when the floor is above the equilibrium price c. creating a shortage when the price floor is set below the equilibrium price d. creating a shortage regardless of where the price floor is set e. ensuring a more equitable distribution of the good among consumers