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If the government raises the price on wheat, it may lead to higher costs for consumers and businesses that rely on wheat as a staple ingredient, potentially driving up food prices. This could reduce demand for wheat, as consumers look for cheaper alternatives. Additionally, farmers might increase production in response to higher prices, but this could take time to affect the market. Overall, the price increase could disrupt supply chains and affect related industries.
What else can I help you with?
N 1994 if the price of wheat had risen above the price floor set by the U.S. government then?
If the price of wheat had risen above the price floor set by the U.S. government in 1994, it would indicate that the market price was higher than the minimum price intended to support farmers' incomes. This situation could lead to surplus wheat production, as farmers would be incentivized to produce more due to higher prices. However, since the price floor is intended to prevent prices from falling too low, the government might need to intervene by purchasing excess wheat to maintain market stability. Overall, such a scenario could disrupt the intended effects of the price floor.
What would happen if gold supply skyrocketed?
To ground price will fall
What would happen if suppliers charge less than the equilibrium price for your good or service?
producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE
What would happen in the for a good if demand increase and supply decreases?
In the short run, there would be oversupply.
Why would the government wish to control the price of a commodity below the market equilibrium price?
Artificially keeping the price of a commodity below market value by governments (usually by selling massive quantities) is to try and achieve the appearance of a greater value in something else.
What is the Average wheat price?
Wheat is traded on different boards of trade depending on the type of wheat. Giving an average price without being asked for what dates is impossible. If you clarify dates and what type of wheat i.e. hard red winter, etc I would be glad to provide more information.
N 1994 if the price of wheat had risen above the price floor set by the U.S. government then?
If the price of wheat had risen above the price floor set by the U.S. government in 1994, it would indicate that the market price was higher than the minimum price intended to support farmers' incomes. This situation could lead to surplus wheat production, as farmers would be incentivized to produce more due to higher prices. However, since the price floor is intended to prevent prices from falling too low, the government might need to intervene by purchasing excess wheat to maintain market stability. Overall, such a scenario could disrupt the intended effects of the price floor.
What would happen if cars would run on water?
Governments would lose control of the masses and total anarchy would take over.
What is the likely effect on the demand for wheat if the government introduce price ceiling?
It depends on what the price ceiling amount is set to. If it is high, then sellers may set prices at that and then the demand will fall. Whereas it could be a good thing, as it would prevent the price increasing by a large amount and being set too high, which would mean the demand for wheat would increase.
Factors affecting the demand of wheat?
Since corn and wheat can both be used as types or grain, they are in a way interchangeable amongst buyers. These types of goods are called substitute good, one can be substituted for another. If the price of corn rises, that leaves wheat being the more favored product (because it's cheaper). When an increase for the demand for wheat increase, the supply will decrease. The opposite would happen if the price of corn falls. If it falls under the price of wheat, corn will then be more favored. Thus making it the more demanded product. Under the law of demand, supply and demand work in opposite directions. When the demand increases, the supply decreases. When the demand decrease, the supply increases.
What would happen if gold supply skyrocketed?
To ground price will fall
What would happen to the price level if AD decreased?
If AD increased, all else being equal, the price level would increase.
What would happen if corn was no longer a resource to the U.S.?
there will be no wheat in u.s. and no corn for us to eat
What would happen if wheat is sown in the kharif season?
If wheat is soan in kharif season that is from June to September, it wouldn't grow properly as it is a rabi crop. It's time period is generally from october to march.
What would happen if plants died in Mexico?
Some 80 million Mexicans would starve to death, as they depend on wheat, rice and corn crops to stay alive.
What would happen if suppliers charge less than the equilibrium price for your good or service?
producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE
What would happen if cotton gins had not been invented?
People would be picking cotton and the price of cotton would be very high.
