The Market for Corn Is in Equilibrium

question 164

Essay

The market for corn is in equilibrium.Which of the following is most likely to increase the equilibrium price of corn?
A.a bountiful harvest
B.increasing production of corn-based ethanol
C.decreasing household incomes and corn is a normal good
D.a subsidy given by the government to growers of corn

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Definitions:

Habituate Rapidly

The process of quickly becoming accustomed or desensitized to a stimulus through repeated exposure.

Nonverbal

Communication or interaction that occurs without the use of words, including gestures, body language, and facial expressions.

Perceptually Differentiated

The capability to distinguish between different stimuli or pieces of information based on sensory input.

Distractible

A characteristic of an individual who is easily pulled away from focusing on something by external stimuli or thoughts.