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By 1929,the price of a bushel of wheat was
Price Floor
A legally established minimum price for a good, or service. Normally set at a price above the equilibrium price.
Legal Price
The price set by law or regulation, often minimum or maximum limits on what can be charged for goods or services.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.
Commodity X
A placeholder name often used to describe a generic good or service in economic models and theories.
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