(Figure: The Demand and Supply of Quinoa) The following graph shows the market for quinoa. According to the graph which statement is FALSE? Price (per bushel) $10 9 8 7 6 5 4 3 2 1 х 0 8 10 12 Quantity of quinoa (thousands of bushels per period) Everyone who wants to sell quinoa at $8 per bushel can find a buyer. O Everyone who wants to buy quinoa at $6 per bushel cap find a seller. If you want to buy a bushel of quinoa for $6 per bushel, you will find a seller. At a price of $3 per bushel, you may not be able to buy any quinoa. 2 4 D 6

(Figure: The Demand and Supply of Quinoa) The following graph shows the market for quinoa. According to the graph which statement is FALSE? Price (per bushel) $10 9 8 7 6 5 4 3 2 1 х 0 8 10 12 Quantity of quinoa (thousands of bushels per period) Everyone who wants to sell quinoa at $8 per bushel can find a buyer. O Everyone who wants to buy quinoa at $6 per bushel cap find a seller. If you want to buy a bushel of quinoa for $6 per bushel, you will find a seller. At a price of $3 per bushel, you may not be able to buy any quinoa. 2 4 D 6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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