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17. (Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. A price of _ will result in a A) $6; shortage B) $8; surplus $8; shortage D) $4; surplus
17. (Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. A price of _ will result in a A) $6; shortage B) $8; surplus $8; shortage D) $4; surplus
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Related questions
1. Assume the equilibrium price of product Z is $10. A decrease in the current price from $14 to $12 will cause an increase in the quantity:
A. Supplied, a decrease in the quantity demanded, and a decrease in the market surplus.
B. Supplied, a decrease in the quantity demanded, and a decrease in the market shortage.
C. Demanded, a decrease in the quantity supplied, and a decrease in the market surplus.
D. Demanded, a decrease in the quantity supplied, and the market shortage is eliminated.
E. Demanded, a decrease in the quantity supplied, and a decrease in the market shortage.
| 2. The Wall Street Journal (newspaper) of August 24, 2016, reported that the Chinese government recently increased the demand for wheat. When an economist says the demand for wheat has increased, she means that: | |||||||||||||||||
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