Other Things Being Equal, Suppose That the Demand for Wheat

question 312

Multiple Choice

Other things being equal, suppose that the demand for wheat in constant quality units increases. The increase in demand will cause

• A) a surplus of wheat.
• B) a higher equilibrium price and higher equilibrium quantity of wheat.
• C) fall in the market clearing price of corn, a substitute for wheat.
• D) a higher equilibrium quantity, but a lower equilibrium price of wheat.

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Administrative Efficiencies

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A measure of revenue generated from the sale of goods or services, expressed in dollars.

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