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-The Above Figure Shows the Domestic Market for Wheat

Question 93

Multiple Choice

-The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition. With no government intervention, the equilibrium price is ________ and the equilibrium quantity is ________. A) $15 per tonne; 400 million tonnes B) $15 per tonne; 100 million tonnes C) $12 per tonne; 250 million tonnes D) $14 per tonne; 250 million tonnes E) $12 per tonne; 300 million tonnes
-The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition. With no government intervention, the equilibrium price is ________ and the equilibrium quantity is ________.


A) $15 per tonne; 400 million tonnes
B) $15 per tonne; 100 million tonnes
C) $12 per tonne; 250 million tonnes
D) $14 per tonne; 250 million tonnes
E) $12 per tonne; 300 million tonnes

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