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AsadQ1 AsadQ1
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If the current market price of wheat in the United States is $6 per bushel and the federal government sets the maximum price of wheat at $4 per bushel, what happens to the market price and quantity of wheat in the U.S. wheat market?

▸ The market price of wheat falls and the quantity traded rises.

▸ There is no change in the market price of wheat or the quantity traded.

▸ The market price of wheat falls and the quantity traded falls.

▸ The answer cannot be determined given the information provided.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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realistpnoyrealistpnoy
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The market price of wheat falls and the quantity traded falls.
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AsadQ1 Author
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A month ago
Helped a lot
bioc
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Yesterday
Smart ... Thanks!
jamiebonf99
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2 hours ago
Good timing, thanks!
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