Corn Prices (1959-2025)
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The graph to the below right shows the market for corn with a price ceiling of 7. Fill in the blanks below with the correct terms and numbers.After the price ceiling is in place, how many bushels of corn are bought/sold?Number bushelsThe market is not in equilibrium after the price ceiling is imposed. Rather, there is a of bushels.◯shortage◯surplusNumber bushelsSupplyPrice CeilingDemand58.3810.86Quantity (bushels)
The graph to the below right shows the market for corn with a price ce…
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