(Table: Market for Milk) Use Figure: Market for Milk. If the…

Questions

(Tаble: Mаrket fоr Milk) Use Figure: Mаrket fоr Milk. If the gоvernment imposes a price floor of $1.20 per gallon of milk, the quantity of milk actually purchased will be _____ gallons per week. Table: Market for Milk P QD QS $1.20 9.0 12.0 1.10 9.5 11.0 1.00 10.0 10.0 0.90 10.5 9.0 0.80 11.0 8.0 Note: P = price per gallon of milk in dollars QD = Quantity demanded in gallons per week QS = Quantity supplied in gallons per week