Use the following to answer question:
-(Figure: The Demand and Supply of Wheat)Use Figure: The Demand and Supply of Wheat.If a price of $10 temporarily exists in this market,a _____ of _____ bushels per period will result.
A)shortage;10,000
B)shortage;8,000
C)surplus;8,000
D)surplus;4,000

Question

Use the following to answer question: 
-(Figure: The Demand and Supply of Wheat)Use Figure: The Demand and Supply of Wheat.If a price of $10 temporarily exists in this market,a _____ of _____ bushels per period will result.
A)shortage;10,000 
B)shortage;8,000 
C)surplus;8,000 
D)surplus;4,000

Quizplus · Accepted Answer

At a price of $10, the quantity supplied exceeds the quantity demanded, resulting in a surplus of 8,000 bushels.

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