Exhibit 4-11 Data on supply and demand
Bushels demandedper month
Price perbushel
Bushels suppliedper month
45
$5
77
50
4
73
56
3
68
61
2
61
67
1
57
In Exhibit 4-11, the equilibrium price per bushel of wheat is:
A. $1.
B. $2.
C. $3.
D. $4.
Answer: B
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