Question: Answer the next question based on the given supply and demand data for wheat. Bushels Demanded Per month Price per Bushel Bushels Supplied Per Month

Answer the next question based on the given supply and demand data for wheat.

Bushels Demanded Per month Price per Bushel Bushels Supplied Per Month 45 $5 77 50 4 73 56 3 68 61 2 61 67 1 57

If the price in this market was $4

rev: 05_07_2018

Multiple Choice farmers would not be able to sell all their wheat. buyers would want to purchase more wheat than is currently being supplied. the market would clear; quantity demanded would equal quantity supplied. there would be a shortage of wheat.

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