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A-Level Economics · Minimum price diagram question

Which distance shows the EXCESS SUPPLY the floor creates?

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The diagram

The answer

The distance F G. Qs 7 − Qd 3 = 4 unsold units at the floor — think EU butter mountains. Excess supply = the horizontal gap AT the floor price: supplied (G) minus demanded (F) = 4 unsold units. That's why floors created butter mountains and wine lakes.

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This is one of 6 questions on the minimum price diagram — every corner lettered, every wrong answer diagnosed.

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