"Higher Ethanol Production Definitely and Directly Raises the Price of Corn

question 248

Multiple Choice

"Higher ethanol production definitely and directly raises the price of corn," said USDA economist Ephraim Leibtag. In the long run in the corn market, what is TRUE if the production of ethanol increases?

• A) Existing corn farmers will exit the market and decrease the market price.
• B) New corn farmers will enter the market and increase the market price.
• C) Existing corn farmers will exit the market and increase the market price.
• D) New corn farmers will enter the market and decrease the market price.

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Definitions:

Verifiability Of Observation

The principle that empirical observations must be capable of being checked or validated by other observers.

Behaviourism

Behaviourism is a theory of learning based on the idea that all behaviors are acquired through conditioning, emphasizing observable behaviors over internal states.

Freud's Theory

A set of psychoanalytic principles created by Sigmund Freud that emphasize the role of unconscious processes in shaping thoughts, feelings, and behaviors.

Experimental Research

A scientific method involving the manipulation of variables to test hypotheses and establish cause-and-effect relationships between them, typically through controlled experiments.