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The graph below shows the supply and demand curves for mohair, a wool obtained from angora goats. ...
The graph below shows the supply and demand curves for mohair, a wool obtained from angora goats. Government price supports were instituted during World War II, when a steady supply of wool was needed for soldiers' uniforms. The price supports are still in effect even though market conditions have changed. Using the straight-line tool, draw the lowest possible binding price floor you can, as a single horizontal line all the way across the graph from one edge to the other. To refer to the graphing tutorial for this question type, please click here.