Prices Communicate Information About Relative Availability of Products

question 141

Multiple Choice

Prices communicate information about relative availability of products. For example, a decrease in the price of corn signals to consumers and producers that:

• A)​consumers are buying more corn than before.
• B)​corn is relatively more abundant than before.
• C)​corn is relatively less abundant than before.
• D)​consumers are stocking up on corn because of the predictions of a cold winter.

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Definitions:

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