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Scenario
Corn crops are susceptible to damage by different species of corn borer, an insect (a type of arthropod) that feeds and lives on corn plants. It is estimated that corn borers may cause up to $1 billion of damage a year to corn crops. Because of pests like the corn borer, researchers have created genetically modified pest-resistant crops. One type of pest-resistant crop, Bt corn, expresses a bacterial toxin that kills corn borers if they consume the toxin. While Bt corn has been planted and used in the United States since 1996, some researchers and members of the public continue to worry about negative effects of the Bt toxin on other animals, including arthropods and humans. In order to investigate the effects of Bt toxins on other animals, researchers conducted experiments where they fed arthropods Bt corn or non-Bt corn. A summary of the effects of eating Bt corn on single species of corn borer, mite, and beetle are shown in the figure below.
-One of your local newscasters sees these data and announces on the news that "Bt toxins are safe because they have no negative effects on any arthropods except for the corn borers." Do you agree with that statement?
Equilibrium Quantity
The supply and demand for goods or services at the price point where equilibrium is achieved in a market.
Price
The measure of money anticipated, obligatory, or tendered in payment towards an item.
Equilibrium Price
The cost at which the amount of a product or service that consumers want to buy matches the amount that producers are willing to sell.
Equilibrium Quantity
The quantity of goods or services supplied and demanded at the equilibrium price, where market supply and demand balance.
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