The graph below shows how the price of wheat varies with the demand quantity.

Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied at each price level. The new equilibrium price (after the increase in supply) is _____.

$3

$4

Question

07-04-2021
Business

Answered

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The graph below shows how the price of wheat varies with the demand quantity.

Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied at each price level. The new equilibrium price (after the increase in supply) is _____.

$3

$4

Sagot :

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