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WAEC Agricultural Science 2020 Question 48

Question 48

Basic Agricultural Economics

The diagram below is a demand and supply graph.
A farmer whose production exceeds point C will experience

Diagram for this question
  1. A.surplus to the market.
  2. B.shortfalls in supply.
  3. C.decrease in cost of production.
  4. D.decrease in revenue generated.
Show the answer and explanation

Answer: A (surplus to the market.)

Explanation

Supplying more than the equilibrium quantity leaves unsold surplus.