Multiple Choice
The demand for corn increases.As a result,the price of corn ________,and the less elastic the supply of corn,the ________ will be the effect on the price.
A) falls;smaller
B) falls;greater
C) rises;smaller
D) rises;greater
E) None of the above because the change in the price is effected by the price elasticity of demand.
Correct Answer:
Verified
Correct Answer:
Verified
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