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b.) Graph and briefly explain/show if statements are true or false: An effective price floor is...

b.) Graph and briefly explain/show if statements are true or false: An effective price floor is expected to create a shortage in a market; but an effective price ceiling is expected to create a surplus in a market. (Need two separate sketches to answer this.) Show the DWL, and the new consumer and producer surpluses on your graphs (sketches).

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