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Question: text box a1 question 11 suppose the total demand for...

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Text BOX A1 Question 11: Suppose the total demand for wheat and the total supply of establishes a price ceiling of $3.70 for wheat. What might Explain carefully the main effects. Demonstrate your wheat per month in the Kansas City grain market are as shown in the table below. Suppose that the government prompt the government to establish this price ceiling? answer graphically. Next, Suppose that the government establishes a price floor of $4.60 for wheat. What will the main effects of this price floor? Demonstrate your answer graphically. Price Per Thousands Thousands Bushel of Bushels of Bushels Demanded Supplied 3.4 3.7 4 ЛЗ 85 72 73 75 80 75 70 Print Layout View Sec 1 Pages: 2 of 92% 9
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