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Economics Mcqs
Q
Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?
AA. The impact on both price and quantity is ambiguous
BB. Price will decrease, quantity is ambiguous.
CC. Price will increase, quantity will decrease
DD. Price will increase, quantity is ambiguous.
Correct Answer:
D. D. Price will increase, quantity is ambiguous.