A government decides to set a minimum price for plastic bottles of water above the current market price. The most likely impact of the scheme will be
1 )
a rise in consumption of plastic bottles of water.
2 )
a shortage of plastic bottles of water if the price elasticity of supply is zero.
excess stocks of plastic bottles of water.
4 )
no excess supply of plastic bottles of water if the price elasticity of demand is zero.
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