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12 May 2018
In recent years, the government of Pakistan has established a support price for wheat of about $0.24 per kilogram of wheat. At this price, consumers are willing to purchase 9 billion kilograms of wheat per year. While Pakistani farmers are willing to grow and harvest 19 billion kilograms of wheat per year. The government purchases and stores all surplus wheat.
What are annual consumer expenditures on the Pakistani wheat crop? $____ billion (round your answer to two decimal places)
How you calculate this problem?
In recent years, the government of Pakistan has established a support price for wheat of about $0.24 per kilogram of wheat. At this price, consumers are willing to purchase 9 billion kilograms of wheat per year. While Pakistani farmers are willing to grow and harvest 19 billion kilograms of wheat per year. The government purchases and stores all surplus wheat.
What are annual consumer expenditures on the Pakistani wheat crop? $____ billion (round your answer to two decimal places)
How you calculate this problem?
2 Jun 2021
