As a Result of Flooding in June and Too Much

question 74

Multiple Choice

As a result of flooding in June and too much heat in July and August,the corn crop turns out to be well below average.As a result of the poor weather,

• A)both equilibrium price and quantity for corn will rise.
• B)both equilibrium price and quantity for corn will fall.
• C)equilibrium price will rise and equilibrium quantity for corn will fall.
• D)equilibrium price will fall and equilibrium quantity for corn will rise.

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