Table 3.1 -Refer to Table 3.1. the Table Contains Information About the Contains

question 45

Essay

Table 3.1

-Refer to Table 3.1. The table contains information about the corn market. Use the table to answer the following questions.
a.What are the equilibrium price and quantity of corn?
b.Suppose the prevailing price is $9 per kilogram. Is there a shortage or a surplus in the market?
c.What is the quantity of the shortage or surplus?
d.How many kilograms will be sold if the market price is $9 per kilogram?
e.If the market price is $9 per kilogram, what must happen to restore equilibrium in the market?
f.At what price will suppliers be able to sell 22 000 kilograms of corn?
g.Suppose the market price is $21 per kilogram. Is there a shortage or a surplus in the market?
h.What is the quantity of the shortage or surplus?
i.How many kilograms will be sold if the market price is $21 per kilogram?
j.If the market price is $21 per kilogram, what must happen to restore equilibrium in the market?
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Definitions:

Demographic Transition

The transition from high birth and death rates to lower birth and death rates as a country develops from a pre-industrial to an industrialized economic system.

Oral Rehydration Therapy

A simple, cost-effective treatment for dehydration, especially due to diarrhea, involving the oral intake of a solution of salts and sugars.

Diarrheal Diseases

A group of illnesses characterized by frequent, watery bowel movements, often caused by infections from various pathogens.

Immunization

Immunization is the process by which individuals are protected from an infectious disease by administering a vaccine, leading to the production of an immune response.