Suppose a Negative Technological Change in the Production of Disease-Resistant

question 181

Multiple Choice

Suppose a negative technological change in the production of disease-resistant wheat caused the price of wheat to rise.Holding everything else constant, how would this affect the market for corn (a substitute for wheat) ?

• A)The supply of corn would decrease and the equilibrium price of corn would increase.
• B)The demand for corn would increase and the equilibrium price of corn would increase.
• C)The demand for corn would decrease because consumers could afford to buy less wheat and corn.
• D)The demand for corn would increase and the equilibrium price of corn would decrease.

---

Definitions:

Product's Benefits

The advantages or positive outcomes that customers can expect from using a product, which are highlighted to promote sales.

Economic Needs

The basic requirements for financial stability and well-being, including food, shelter, and employment.

Individual's Emotions

The feelings and emotional states experienced by a person, which can influence their behavior and decision-making.

Unconscious Need

A desire or requirement that an individual may not be explicitly aware of but influences their behavior or decisions.