The Figure Given Below Depicts the Negatively Sloped Demand and Positively

question 109

Multiple Choice

The figure given below depicts the negatively sloped demand and positively sloped supply curves of wheat in a country.Figure 21.2

-Refer to Figure 21.2. In the absence of international trade, what are the domestic equilibrium price and quantity?

• A)$30 and 200 bushels
• B)$50 and 400 bushels
• C)$30 and 400 bushels
• D)$50 and 300 bushels
• E)$25 and 150 bushels

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