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Refer to the Graph of the Market for Wheat

Question 3

Multiple Choice

  Refer to the graph of the market for wheat. The government adopts a price support program for wheat and supports the wheat price at P ₂. The area of 0 P ₂ AQ ₁ would measure the A) total amount received by wheat farmers. B) total profits of wheat farmers. C) amount the government will pay to wheat farmers. D) amount private buyers of wheat will pay to wheat farmers. Refer to the graph of the market for wheat. The government adopts a price support program for wheat and supports the wheat price at P ₂. The area of 0 P ₂ AQ ₁ would measure the


A) total amount received by wheat farmers.
B) total profits of wheat farmers.
C) amount the government will pay to wheat farmers.
D) amount private buyers of wheat will pay to wheat farmers.

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