If a Decrease in the Demand for Corn Leads to Economic

question 168

Multiple Choice

If a decrease in the demand for corn leads to economic losses for corn farmers,

• A) some existing corn farmers will exit the industry.
• B) the price of corn will remain low in the long run due to the economic losses.
• C) the suppliers of corn will suffer long-run economic losses.
• D) all of the above are correct.

---

Definitions:

Closure

A psychological term referring to an individual's desire for a firm answer to a question and an aversion toward ambiguity.

Ocean

A large body of saltwater that covers approximately 71% of the Earth's surface, subdivided into five major oceans.

Binocular Cue

A visual signal that requires the coordination of both eyes to perceive depth and distance.

Three Dimensions

Usually refers to the three physical dimensions in which objects exist and move: height, width, and depth.