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This question is based on the following diagram. If a price floor at P3 ...

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This question is based on the following diagram.

If a price floor at P3 is set to help improve farm incomes and the government wants to assure farmers that their output will be purchased, the government must purchase an amount of output equal to

Q₃ – Q₀.

Q₃ – Q₁.

100%

Q₄ – Q₂.

Q₄ – Q₀.

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