When the price of wheat rises

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Explain whether you agree or disagree with the following remark: “ According to the model of perfectly competitive markets, the demand for wheat should be a horizontal line. But this can’t be true. When the price of wheat rises, the quantity of when demanded falls, and when price of wheat falls, the quantity of wheat demanded rises. Therefore, the demand for wheat is not a horizontal line.”

Reference no: EM13148765

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