In the money market, an excess supply of money is equivalent to an excess supply of bonds

Monopolistic competition is defined as a type of market structure in which

A) many firms produce the good. B) firms produce a homogeneous good. C) there are barriers to entry. D) firms can make an economic profit in the long run. E) firms can easily enter the market but cannot easily exit from it.

A technological improvement lowers the cost of producing corn. As a result, the price of a pound of corn ____ and the quantity of corn ____. Question 13 options:

A. falls; increases B. falls; does not change C. falls; decreases D. rises; decreases E. rises; increases