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 would be the farmers' revenue from the sale of the wheat in the market if the price floor is $16 per bushel of wheat?
Definitions:
Modus Ponens
A form of logical argument where a premise, if true, inevitably leads to a particular conclusion.
Modus Tollens
A logical argument form where if the consequent is not true, then the antecedent cannot be true; often formatted as "If P, then Q. Not Q, therefore not P."
Deductive Reasoning
A rational procedure where an outcome is derived from the agreement of several statements, which are widely accepted as true.
Deductive Validity
A property of some logical arguments such that it is impossible for the premises to be true and for the conclusion(s) to be false.
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