If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?

A) The quantity of milk demanded will increase.
B) The quantity of milk supplied will decrease.
C) There will be a surplus of milk.
D) There will be a shortage of milk.

Price Floor

A government or regulatory-imposed minimum price that can be charged for a good or service, below which it cannot legally be sold.

Milk

A nutrient-rich liquid food produced by the mammary glands of mammals, commonly consumed by humans.

Market Equilibrium

A condition or state in which the supply of a product matches its demand, leading to a stable price.