Use the following to answer question(s): Demand and Supply of Wheat

-(Exhibit: Demand and Supply of Wheat) If a price of $10 temporarily exists in this market, a:

Question

Use the following to answer question(s): Demand and Supply of Wheat
 
-(Exhibit: Demand and Supply of Wheat) If a price of $10 temporarily exists in this market, a:

Quizplus · Accepted Answer

At a price of $10, the quantity demanded is 18,000 bushels, while the quantity supplied is 26,000 bushels. This creates a surplus of 8,000 bushels, as the quantity supplied exceeds the quantity demanded.

Use the Following to Answer Question(s): Demand and Supply of Wheat