Below Is a Graphical Representation of the Wheat Market in the Distant

question 95

Multiple Choice

Below is a graphical representation of the wheat market in the distant land of Nod.

-Refer to the graph above to answer this question.If supply was increased by 30 million bushels,what would be the new equilibrium price and quantity?

• A)$3 and 20 million bushels.
• B)$3 and 50 million bushels.
• C)$3 and 70 million bushels.
• D)$7 and 30 million bushels.
• E)$7 and 60 million bushels.

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Definitions:

Saturated Fats

A type of fat found in animal products and some plant oils, characterized by having no double bonds between carbon atoms in the fatty acid chains, often associated with raising cholesterol levels.

Palm Oil

A type of vegetable oil derived from the fruit of oil palm trees, commonly used in food products, cosmetics, and biofuels.

Coconut Oil

A plant-based fat derived from the meat of coconuts, utilized for cooking, skin care, and hair care due to its moisturizing and antibacterial properties.

Canola Oil

A type of edible cooking oil derived from varieties of the rapeseed plant, known for its low saturated fat content.