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Sublight2097 Sublight2097
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8 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) The price of wheat products would rise.
B) The demand for wheat would fall.
C) The quantity demanded of wheat would rise.
D) A shortage of wheat would occur.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Another one in the books, marking it solved.
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#3
8 years ago
I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile
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