Refer to the Above Diagram of the Market for Corn

question 58

Multiple Choice

Refer to the above diagram of the market for corn. If the price in this market is at $4 per bushel, then there will be a:

• A) Surplus and the price will tend to rise
• B) Shortage and the price will tend to rise
• C) Surplus and the price will tend to fall
• D) Shortage and the price will tend to fall

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Definitions:

Immigrant

An individual who moves to a country from another to live permanently or for an extended period.

Affirmative Action

A policy or a program promoting the representation and participation of minority groups and women in education, employment, and other areas.

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Education provided by universities and other institutions that offer academic degrees and research opportunities beyond secondary education.

Tomás Almaguer

A scholar known for his work in American Ethnic Studies, notably on racial and ethnic identities in the United States, especially regarding Latino/Chicano communities.