Refer to the Graph of the Market for Wheat

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. As a result of this price support program,

A) there will be a shortage of wheat in the amount of AB.
B) there will be a surplus of wheat in the amount of Q₁ Q₂.
C) there will be a surplus of wheat in the amount of Q₀ Q₂.
D) wheat farmers will receive less total income than if there were no price support program.