35 Answer the question based on the given supply and demand data for wheat. Bushels Supplied per Month Bushels Demanded. per Month 45 50 Price per Bushel $5 4 3 2 56 61 67 If the price in this market was $4. Multiple Choice 1 77 73 68 61 57 buyers would want to purchase more wheat than is currently being supplied. the market would clear, quantity demanded would equal quantity supplied.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Question
35
If the price in this market was $4.
Multiple Choice
buyers would want to purchase more wheat than is currently being supplied.
the market would clear; quantity demanded would equal quantity supplied.
farmers would not be able to sell all their wheat.
there would be a shortage of wheat
Transcribed Image Text:35 If the price in this market was $4. Multiple Choice buyers would want to purchase more wheat than is currently being supplied. the market would clear; quantity demanded would equal quantity supplied. farmers would not be able to sell all their wheat. there would be a shortage of wheat
35
Answer the question based on the given supply and demand data for wheat.
Bushels Supplied
per Month
Bushels Demanded
per Month
45
50
Price per
Bushel
$5
4
3
56
61
67
If the price in this market was $4,
Multiple Choice
2
1
77
73
68
61
57
buyers would want to purchase more wheat than is currently being supplied.
the market would clear; quantity demanded would equal quantity supplied.
Transcribed Image Text:35 Answer the question based on the given supply and demand data for wheat. Bushels Supplied per Month Bushels Demanded per Month 45 50 Price per Bushel $5 4 3 56 61 67 If the price in this market was $4, Multiple Choice 2 1 77 73 68 61 57 buyers would want to purchase more wheat than is currently being supplied. the market would clear; quantity demanded would equal quantity supplied.
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