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Figure: The Demand and Supply of Wheat
-(Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. If a price of $10 temporarily exists in this market, a _____ of _____ bushels will result.
A)shortage; 10,000
B)shortage; 8,000
C)surplus; 8,000
D)surplus; 4,000

Question

Use the following to answer questions :
Figure: The Demand and Supply of Wheat 
-(Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. If a price of $10 temporarily exists in this market, a _____ of _____ bushels 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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