Use the following to answer question:
-(Figure: The Demand and Supply of Wheat)Use Figure: The Demand and Supply of Wheat.A temporary price of $4 in this market would result in a _____ of _____ bushels per period.
A)surplus;4,000
B)shortage;2,000
C)shortage;4,000
D)surplus;2,000

Question

Use the following to answer question: 
-(Figure: The Demand and Supply of Wheat)Use Figure: The Demand and Supply of Wheat.A temporary price of $4 in this market would result in a _____ of _____ bushels per period.
A)surplus;4,000 
B)shortage;2,000 
C)shortage;4,000 
D)surplus;2,000

Quizplus · Accepted Answer

A temporary price of $4 would result in a shortage of 4,000 bushels per period because the quantity demanded would exceed the quantity supplied at that price.

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