Multiple Choice
The supply and demand for wheat is given by QS = 200 + .2A + p and QD = 500 - p,where p is the price of wheat and A is the amount of rainfall (inches per year) .The effect of an incremental increase in rainfall on equilibrium will be
A) a decrease the price of wheat by 10¢.
B) a decrease the price of wheat by 20¢.
C) an increase in the price of wheat by 20¢.
D) an increase in the price of wheat by 10¢.
Correct Answer:
Verified
Correct Answer:
Verified
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