Assume that corn and soybeans are alternatives that could be grown by most farmers. An increase in the price of corn will
a. increase the supply of corn.
b. increase the supply of soybeans.
c. decrease the supply of soybeans.
d. decrease the supply of corn.
e. have no effect on the supplies of corn and soybeans.
C
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The figure above shows that the government provides a subsidy to the farmers of ________ million
A) $350 B) $1,050 C) $50 D) $100 E) $700
Cable television companies must pay increased charges by the networks for the programs the cable companies carry. As a result, the price of cable television rises. Thus
A) the demand curve for cable television service shifts rightward. B) the demand curve for cable television service shifts leftward. C) there is a movement down the demand curve for cable television to a higher quantity demanded. D) there is a movement up the demand curve for cable television to a smaller quantity demanded.