Suppose Farmers in a Given Market Can Either Grow Soy

question 141

Multiple Choice

Suppose farmers in a given market can either grow soy beans or corn on their land. In addition, suppose an increase in the demand for corn causes the price of corn to increase. In the long run, this increase in the demand for corn is likely to ________ the price of soy beans.

• A)lead to an increase in
• B)lead to a decrease in
• C)have no effect on
• D)have an ambiguous effect on

---

Definitions:

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 1 represents certainty.

Expectancy

Expectancy, in the context of motivation theories, is the belief that one's effort will lead to desired performance and is based on past experience, self-confidence, and the perceived difficulty of the goal.

Challenging

Describes tasks or situations that are demanding and testing, requiring effort and determination to overcome.

Attainable

Something that can be achieved or reached through effort, skill, or hard work.