Suppose There Is a Decrease in the Price of Corn

question 41

Multiple Choice

Suppose there is a decrease in the price of corn.If corn is an input into the production of ethanol,we would expect the supply curve for ethanol to

• A)shift rightward.
• B)shift leftward.
• C)become flatter.
• D)remain unchanged.

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Definitions:

General Partners

Individuals or entities who manage the business and are personally liable for the partnership's debts.

Limited Partners

Investors in a partnership who are not involved in the daily operations of the business and whose liability is restricted to the amount of their investment.

Co-owners

Individuals or entities that hold ownership rights together in a property or asset, sharing the benefits as well as responsibilities.

Sole Proprietorship

A business structure where a single individual owns and operates the business, making them solely responsible for its debts and liabilities.