Suppose the federal government provides wheat farmers with a price floor above the market equilibrium price of wheat, creating a surplus. Which of the following causes a reduction in the surplus of wheat?
a. A decrease in the market equilibrium price of wheat
b. A decrease in the demand for wheat
c. An increase in the supply of wheat
d. Elimination of the price floor
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose the federal government provides wheat farmers with a price floor above the market equilibrium price of wheat, creating a surplus. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials?
Answers (1)
All else equal, what happens to consumer surplus if the price of a good decreases?
Answers (1)
Swifty Corporation's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $310000 $260000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2017, $860000 of raw
Answers (1)
What's the difference between a positive attitude and a positive mindset?
Answers (1)
Which type of credit is most likely to be unsecured? auto loans credit cards mortgage loans personal loans
Answers (2)
New Questions in Business
Tangshan China Company's stock is currently selling for $80.00 per share. The expected dividend one year from now is $4.00 and the required return is 13 percent.
Answers (1)
18. What was a major factor in the failure of (mostly) command economies? A. Lack of voting rights B. Lack of the profit motive C. Not enough military spending D. Abundant basic goods
Answers (2)
You are saving to buy a $188,000 house. There are two competing banks in your area, both offering certificates of deposit yielding 7.3 percent.
Answers (1)
Has the company you're auditing recently increased or decreased their operations due to mergers or sales of parts of the business?
Answers (1)
Tom lives in an apartment where he pays $8,000 a year in rent. Sarah lives in a house that could be rented for $10,000 a year. How much do these housing services contribute to GDP?
Answers (1)