The Data Shows the Demand and Supply for Wheat

The data shows the demand and supply for wheat:
quantity of bushels per year (in million)

-Refer to the information above to answer this question.What are the implications if the wheat market is in equilibrium?

A) The market price would be $10 per bushel and there would be a shortage of 20 bushels of wheat.
B) The market price would be $12 per bushel and there would be a shortage of 10 bushels of wheat.
C) The market price would be $14 per bushel and 20 bushels of wheat would be demanded.
D) The market price would be $16 per bushel and there would be a surplus of 10 bushels of wheat.
E) The market price would be $18 per bushel and there would be a surplus of 20 bushels of wheat.

Correct Answer:

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