In 2012, a Severe Drought Led to an Increase in the Price

question 111

Multiple Choice

In 2012, a severe drought led to an increase in the price of corn. Farmer Lyle was not affected by the drought. Comparing 2012 to the previous year in which there was no drought, Farmer Lyle's

• A)consumer surplus increased.
• B)producer surplus increased.
• C)producer surplus increased and his consumer surplus increased.
• D)consumer surplus decreased and his producer surplus increased.
• E)supply of corn became perfectly elastic.

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Definitions:

Sleep Deprivation

Any significant loss of sleep, resulting in problems in concentration and irritability.

Insomnia

Difficulty in falling asleep or staying asleep, even when a person has the chance to do so, affecting physical and mental health.

Falling Asleep

The transition from wakefulness to sleep, marked by a decrease in bodily movement, responsiveness to external stimuli, and eventual entry into the sleep cycle.

Remaining Asleep

The state or condition of continuing to be asleep after initially falling asleep, often considered in the context of sleep quality and disorders.