Use the following figure to answer the next questions.

-If the government imposes a price floor on wheat at $5 and agrees to purchase any surpluses, how much will the government be forced to spend?
A) $15,000,000
B) $3,000,000
C) $10,000,000
D) $25,000,000
E) nothing because there would be no surplus

Question

Use the following figure to answer the next questions.
 
-If the government imposes a price floor on wheat at $5 and agrees to purchase any surpluses, how much will the government be forced to spend?
A) $15,000,000 
B) $3,000,000 
C) $10,000,000 
D) $25,000,000 
E) nothing because there would be no surplus

Quizplus · Accepted Answer

The government will spend $15,000,000 to purchase the surplus wheat at the imposed price floor, assuming the surplus quantity and price floor details given in the scenario lead to this amount.

Use the Following Figure to Answer the Next Questions