$2.00 D $1.50 $1.00 20 27 28 30 35 Millions of Gallons of Milk Per Week Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. O a surplus of 30 million gallons. Price (per gallon)
$2.00 D $1.50 $1.00 20 27 28 30 35 Millions of Gallons of Milk Per Week Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. O a surplus of 30 million gallons. Price (per gallon)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Refer to the above diagram for the milk market, If the price were $1.00 per gallon, then there would be
![$2.00 -
$1.50-
$1.00-
35
27 28 30
Millions of Gallons of Milk Per Week
20
Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be
O a surplus of 10 million gallons.
O a shortage of 27 million gallons.
O a shortage of 8 million gallons.
a surplus of 30 million gallons.
Price (per gallon)
洋](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9ed6d6c1-ddcb-43f1-9dd8-fe79979ed6c9%2F20cfeaed-6505-424f-9f04-3c580e9290bb%2Fvrb128p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:$2.00 -
$1.50-
$1.00-
35
27 28 30
Millions of Gallons of Milk Per Week
20
Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be
O a surplus of 10 million gallons.
O a shortage of 27 million gallons.
O a shortage of 8 million gallons.
a surplus of 30 million gallons.
Price (per gallon)
洋
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