Which of the Following Is Most Likely to Increase the Supply

question 73

Multiple Choice

Which of the following is most likely to increase the supply of corn?

• A) The farm worker's union successfully negotiates a pay increase for corn harvest workers.
• B) The Surgeon General announces that eating corn bread contributes to baldness in men.
• C) Congress and the President eliminate subsidies formerly paid to corn farmers.
• D) Farmers that grow soybeans can also grow corn, and the price of soybeans drops by 75 percent.

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Definitions:

Short Run

A time period in economics during which at least one input is fixed while others are variable.

Marginal Products

The additional output that is produced by utilizing one more unit of a variable input, holding all other inputs constant.

Sales Clerks

Employees who assist customers, handle transactions, and maintain merchandise organization in retail environments.

Customers Served

The number of customers who receive services or goods from a business or organization.