How Is the Market for Corn (A Substitute for Wheat)affected

question 198

Multiple Choice

How is the market for corn (a substitute for wheat) affected by a positive technological change in the production of disease-resistant wheat caused the price of wheat to fall, holding everything else constant?

• A)The supply of corn would decrease and the equilibrium price of corn would increase.
• B)The demand for corn would increase and the equilibrium price of corn would increase.
• C)The demand for corn would decrease because consumers could afford to buy less wheat and less corn.
• D)The demand for corn would increase and the equilibrium price of corn would decrease.

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Definitions:

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A civil right that allows individuals of a democratic society to participate in the election of government officials and in referendum questions, fundamental to the democratic process.

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