Answer the question based on the given supply and demand data for wheat. Bushels Demanded per Month Price per Bushel Bushels Supplied per Month 45 $ 577 50 4 73 56 3 68 61 2 61 671 57 If the price was initially $4 and free to fluctuate, we would expect the Multiple Choice quantity of wheat demanded to fall as a result of the subsequent price change. price of wheat to rise. quantity of wheat supplied to decline as a result of the subsequent price change. quantity supplied to continue to exceed the quantity demanded.

ENGR.ECONOMIC ANALYSIS
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Answer the question based on the given supply and demand data for wheat.
Bushels Demanded per Month Price per Bushel Bushels Supplied per Month
45 $ 577
50 4 73
56 3 68
61 2 61
671 57
If the price was initially $4 and free to fluctuate, we would expect the
Multiple Choice
quantity of wheat demanded to fall as a result of the subsequent price change.
price of wheat to rise.
quantity of wheat supplied to decline as a result of the subsequent price change.
quantity supplied to continue to exceed the quantity demanded.
Transcribed Image Text:Answer the question based on the given supply and demand data for wheat. Bushels Demanded per Month Price per Bushel Bushels Supplied per Month 45 $ 577 50 4 73 56 3 68 61 2 61 671 57 If the price was initially $4 and free to fluctuate, we would expect the Multiple Choice quantity of wheat demanded to fall as a result of the subsequent price change. price of wheat to rise. quantity of wheat supplied to decline as a result of the subsequent price change. quantity supplied to continue to exceed the quantity demanded.
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