An Increase in the Demand for Corn Is More Than

question 70

Multiple Choice

An increase in the demand for corn is more than offset by an increase in its supply. As a result, the equilibrium price will

• A) increase and the equilibrium quantity will decrease.
• B) increase and the equilibrium quantity will increase.
• C) decrease and the equilibrium quantity will decrease.
• D) decrease and the equilibrium quantity will increase.

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Definitions:

Routinization

The process of making an action or series of actions standard and routine within an organization, thereby increasing efficiency.

Creativity Undermine

Occurs when conditions or attitudes negatively impact the ability or willingness of individuals or teams to generate innovative ideas or solutions.

Social Approval

concerns the positive acceptance or endorsement by others within a social group or society, often influencing individuals' behavior and decisions.

Incubation

Describes a period of nurturing, support, and development for new ideas, startups, or innovations to help them mature or succeed.