The Data Shows the Demand and Supply for Wheat

question 77

Multiple Choice

The data shows the demand and supply for wheat:
quantity of bushels per year (in million)

-Refer to the information above to answer this question.What are the implications if the wheat market is in equilibrium?

• A)The market price would be $10 per bushel and there would be a shortage of 20 bushels of wheat.
• B)The market price would be $12 per bushel and there would be a shortage of 10 bushels of wheat.
• C)The market price would be $14 per bushel and 20 bushels of wheat would be demanded.
• D)The market price would be $16 per bushel and there would be a surplus of 10 bushels of wheat.
• E)The market price would be $18 per bushel and there would be a surplus of 20 bushels of wheat.

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