Problem
Suppose that the MILC program had no cap. Given the demand and supply functions described in Application 15.3, how much would the government need to buy to raise the price of milk to $1.40 per gallon under a price support program? What would be the effects on aggregate surplus, consumer surplus, producer surplus, and government revenue?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.