Suppose That the Price of Wheat Is Above Its Equilibrium

question 9

Multiple Choice

Suppose that the price of wheat is above its equilibrium price. You would expect to see

• A) a shortage on the market that causes prices to increase further.
• B) an increase in quantity demanded because of the high price.
• C) a leftward shift of the demand curve because of the high price.
• D) sellers begin to lower their prices because of the surplus of wheat.

---

Definitions:

Polynesian Seafarers

Refers to the skilled navigators and sailors of the Polynesian islands, who explored and settled the vast Pacific Ocean using traditional wayfinding techniques and celestial navigation.

Rapanui

The indigenous Polynesian people of Easter Island in the southeastern Pacific Ocean, known for their history and monumental statues.

High Altitude

Regions of the Earth notably above sea level, affecting climate, human activity, and biological adaptations.

Barrel-Chested

Describing a person with a broad and rounded chest, often implying strength or robust health.