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

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Definitions:

Colonial Conflicts

Disputes and wars between colonial powers and indigenous peoples or among colonial powers themselves over land, resources, or political dominance.

Anglo-French Rivalry

A series of military, colonial, and economic conflicts between Britain and France that spanned several centuries, impacting global politics and territories.

Fashoda Affair

A diplomatic crisis between France and Britain in 1898 over control of Sudan, highlighting imperial rivalries and leading to the eventual Entente Cordiale.

Righteous and Harmonious Fists

A Chinese secret society known for the Boxer Rebellion (1899-1901), which aimed to rid China of foreign influence and missionaries.