Which of the following is the most likely explanation for the imposition of a price floor on the market for corn?
a. policymakers have studied the effects of the price floor carefully, and they recognize that the price floor is advantageous for society as a whole.
b. buyers and sellers of corn have agreed that the price floor is good for both of them and have therefore pressured policy makers into imposing the price floor.
c. buyers of corn, recognizing that the price floor is good for them, have pressured policymakers into imposing the price floor.
d. sellers of corn, recognizing that the price floor is good for them, have pressured policymakers into imposing the price floor.

A price floor is imposed when policymakers have studied the effects of the price floor carefully and they recognize that the price floor is advantageous for society as a whole.

Explanation:

Policymakers take into consideration both the sellers and buyers of corn before imposing a price floor which makes it advantageous to both sides.

Again they also take into consideration the economic implications and impact of the corn market before imposing the policy which is why it benefits the society as a whole.

Sean: Demand increased, but supply increased at the same time

Explanation:

An increase in demand would lead to a rise in the quantity of coffee sold. This would lead to an increase in price and quantity of coffee demanded.

A rise in supply of coffee would lead to an increase in the quantity of coffee and a decrease in price of coffee.

Taking these two effects together, the effect of an increase in demand which led to a rise in price of coffee and the increase in the supply of coffee which lead to a fall in price would cancel each other and price would remain unchanged.