Use the Following to Answer Question(s): Demand and Supply of Wheat

question 178

Multiple Choice

Use the following to answer question(s) : Demand and Supply of Wheat

-(Exhibit: Demand and Supply of Wheat) A temporary price of $2 in this market would result in:

• A) a surplus of 8,000 bushels.
• B) a shortage of 8,000 bushels.
• C) a shortage of 10,000 bushels.
• D) a surplus of 10,000 bushels.

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Definitions:

Warranty of Fitness

An assurance that a product or service is suitable for the specific purpose for which it was bought, often implied in sales contracts.

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