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Statements best describes an effect

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Suppose that the government set the price of chocolate at $6 per pound. Which of the following statements best describes an effect of this price control? There would be a surplus of 40 pounds of chocolate.

A) There would be a surplus of 40 pounds of chocolate.

B) Less chocolate would be demanded at $4 than at $6.

C) Producers of chocolate would want the price set at $4.

D) There would be a shortage of 20 pounds of chocolate.

Reference no: EM131038699

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