Farmers Can Plant Either Corn or Soybeans in Their Fields

question 43

Multiple Choice

Farmers can plant either corn or soybeans in their fields.Which of the following would cause the supply of soybeans to increase?

• A)an increase in the price of soybeans
• B)a decrease in the price of corn
• C)an increase in the demand for corn
• D)an increase in the price of soybean seeds

---

Definitions:

Differentiation Strategy

A business approach where a company develops unique products or services to stand out from competitors.

Unique Product

A product that is distinct in its features, functionality, or branding, setting it apart from competitors' offerings.

Cost Leadership Strategy

A business strategy focused on gaining competitive advantage by being the lowest cost producer in the market while maintaining acceptable quality levels.

Low Prices

A pricing strategy where goods or services are offered to consumers at a lower cost compared to competitors.