nicheffa2nn5aa nicheffa2nn5aa

14-12-2016
Business

contestada

At $5 a bushel, there is an excess supply of wheat. Is this price above or below the equilibrium price?

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syed514 syed514

20-12-2016

It is a price floor above the equilibrium price.The price is too high so that the suppliers will produce more than the consumption.

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ktrjman ktrjman

02-02-2021

Since there is an excess supply of wheat, the price is above the equilibrium price because not enough consumers are willing to buy the good at $5 a bushel. So there is a decrease in demand for this product due to its high price.

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