Identify the negative consequences of establishing a price floor on milk. Negative Consequence Consumers will demand...

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Identify the negative consequences of establishing a price floor on milk. Negative Consequence Consumers will demand higher-quality milk as they are forced to pay more. Drag appropriate answer(s) here Sellers will be tempted to engage in illegal activity to recoup some of their costs due to milk that went unsold. Not a Negative Consequence ********* + + There will be a surplus of milk. There will be a decrease in the quantity of milk demanded. Drag appropriate answer(s) here Identify the negative consequences of establishing a price floor on milk. Negative Consequence Consumers will demand higher-quality milk as they are forced to pay more. Drag appropriate answer(s) here Sellers will be tempted to engage in illegal activity to recoup some of their costs due to milk that went unsold. Not a Negative Consequence ********* + + There will be a surplus of milk. There will be a decrease in the quantity of milk demanded. Drag appropriate answer(s) here

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Step 12 Price floor is a limit set above the equilibrium price level to prevent sellers from chargin... View the full answer