Multiple Choice
The following question are based on the following graph:
The curves D and S represent the market demand and supply curves for wheat in 1960. The curves D₁ and S₁ represent the market demand and supply curves in 2000. Assume there were no support programs in either year.
-In the graph
A) demand rose and supply fell.
B) demand fell and supply rose.
C) both demand and supply fell.
D) both demand and supply rose.
E) demand and supply remained unchanged, but the quantity demanded rose and the quantity supplied fell.
Correct Answer:
Verified
Correct Answer:
Verified
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