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Sublight2097 Sublight2097
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10 years ago
Suppose the market-clearing price of wheat is $2.50 per bushel. What would happen if wheat farmers persuaded the government to set a legally-mandated price support of $3.75 per bushel?
A) A shortage of wheat would occur.
B) The demand for wheat would fall.
C) The supply of wheat would rise.
D) The government would have to purchase any surplus wheat to maintain the price support.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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Sublight2097 Author
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9 years ago
Seriously, you've been tremendously helpful! Thank you.
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