Suppose Farmers in a Given Market Can Either Grow Soy

question 48

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. All else equal, an increase in the price of corn creates an incentive for farmers to:

• A)switch away from growing corn and into growing soy beans.
• B)switch away from growing soy beans and into growing corn.
• C)grow less corn, but not change their production of soy beans.
• D)grow more corn, but not change their production of soy beans.

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Definitions:

Antiaromatic

A term describing cyclic compounds that are unstable due to conjugated pi electrons disrupting the molecule’s planarity or symmetry.

Nonaromatic

Refers to compounds that do not have a conjugated system of electrons typical of aromatic compounds, lacking the distinctive stability and ring structure of benzene.

Allotropes

Different forms of the same element, with distinct physical and chemical properties, due to different arrangements of atoms or bonds (e.g., graphite and diamond are allotropes of carbon).

Carbon

A chemical element with symbol C and atomic number 6, essential to all known life and the basis for organic chemistry.