In the figure, the equilibrium price is initially $3 per bushel of wheat. If suppliers come to expect that. the price of a bushel of wheat will rise in the future, but buyers do not, the current equilibrium price will Select one: O a. not change. O b. Perhaps rise, fall, or stay the same, depending on whether there are more demanders or suppliers in the market. O c. rise.
In the figure, the equilibrium price is initially $3 per bushel of wheat. If suppliers come to expect that. the price of a bushel of wheat will rise in the future, but buyers do not, the current equilibrium price will Select one: O a. not change. O b. Perhaps rise, fall, or stay the same, depending on whether there are more demanders or suppliers in the market. O c. rise.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![100
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Quantity (millions of bushels of wheat)
In the figure, the equilibrium price is initially $3 per bushel of wheat. If suppliers come to expect that.
the price of a bushel of wheat will rise in the future, but buyers do not, the current equilibrium price will
Select one:
O a. not change.
O b. Perhaps rise, fall, or stay the same, depending on whether there are more demanders or
suppliers in the market.
O c. rise.
O d. fall.
4.
2.
Price (dollars per bushel of wheat](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd6b1f199-afd2-4475-bf01-01aaf285df24%2F2c4aac17-36bb-450f-b35d-3cf344ca1fd0%2F1nirf3j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:100
200
300
400
500
600
Quantity (millions of bushels of wheat)
In the figure, the equilibrium price is initially $3 per bushel of wheat. If suppliers come to expect that.
the price of a bushel of wheat will rise in the future, but buyers do not, the current equilibrium price will
Select one:
O a. not change.
O b. Perhaps rise, fall, or stay the same, depending on whether there are more demanders or
suppliers in the market.
O c. rise.
O d. fall.
4.
2.
Price (dollars per bushel of wheat
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