Multiple Choice
The current price of wheat is $10 per bushel, but the equilibrium price of wheat is $5 per bushel. As a result,
A) the quantity supplied of wheat exceeds the quantity demanded of wheat at $10 per bushel.
B) the equilibrium quantity of wheat exceeds the quantity demanded at the $10 price.
C) there is a surplus of wheat at the $10 price.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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