1.Please answer the following questions with respect to the following scenario: A price floor of milk. a. Will the quantity of milk for sale change?

1.Please answer the following questions with respect to the following scenario: A price floor of milk.

a. Will the quantity of milk for sale change?

b. Will dairy farmers be better off?

2.The type of non-price rationing that most closely approaches the market outcome is:

a. favored customer rationing

b. first come, first served basis or queuing

c. coupon rationing with coupons that can be resold

d. coupon rationing with coupons that cannot be resold