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Refer to the Diagram Illustrating the Market for Corn

Question 174

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Refer to the diagram illustrating the market for corn.If the price in this market were to be fixed at $4 per bushel, the part of the line marked A would represent a: Refer to the diagram illustrating the market for corn.If the price in this market were to be fixed at $4 per bushel, the part of the line marked A would represent a: A) surplus of 8,000 bushels. B) shortage of 8,000 bushels. C) surplus of 7,000 bushels. D) shortage of 7,000 bushels.


A) surplus of 8,000 bushels.
B) shortage of 8,000 bushels.
C) surplus of 7,000 bushels.
D) shortage of 7,000 bushels.

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