Right Panel: the Market: a Shift of Short-Run Supply in Response

Multiple Choice

Right Panel: The market: a shift of short-run supply in response to an increase in demand.
-Refer to the diagrams above.If the market demand for wheat and the market supply of wheat are represented by D' and SRS,respectively,the market price is ____ per bushel and the firm will produce _____ bushels of wheat per year.

A) $1.20;12 million
B) $1.20;12 thousand
C) more than $1.20;more than 12 thousand
D) less than $1.20;more than 12 million
E) more than $1.20;more than 12 million