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The Market for Soybeans Is Characterized by = 18

Question 11

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The market for soybeans is characterized by The market for soybeans is characterized by = 18 - P<sub>s</sub> and = P<sub>s</sub> - 0.5P<sub>c</sub>, where Q<sub>s</sub> is the quantity of soybeans in millions of bushels, P<sub>s</sub> is the price per bushel of soybeans, and P<sub>c</sub> is the price per bushel of corn. The market for corn is characterized by = 18 - P<sub>c</sub> and = P<sub>c -</sub> 0.5P<sub>s</sub>, where Q<sub>c</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium quantity of corn is _____ bushels and that of soybeans is _____ bushels. A) 6 million; 6 million B) 9 million; 9 million C) 6.5 million; 6.5 million D) 16 million; 16 million = 18 - Ps and The market for soybeans is characterized by = 18 - P<sub>s</sub> and = P<sub>s</sub> - 0.5P<sub>c</sub>, where Q<sub>s</sub> is the quantity of soybeans in millions of bushels, P<sub>s</sub> is the price per bushel of soybeans, and P<sub>c</sub> is the price per bushel of corn. The market for corn is characterized by = 18 - P<sub>c</sub> and = P<sub>c -</sub> 0.5P<sub>s</sub>, where Q<sub>c</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium quantity of corn is _____ bushels and that of soybeans is _____ bushels. A) 6 million; 6 million B) 9 million; 9 million C) 6.5 million; 6.5 million D) 16 million; 16 million
= Ps - 0.5Pc, where Qs is the quantity of soybeans in millions of bushels, Ps is the price per bushel of soybeans, and Pc is the price per bushel of corn. The market for corn is characterized by The market for soybeans is characterized by = 18 - P<sub>s</sub> and = P<sub>s</sub> - 0.5P<sub>c</sub>, where Q<sub>s</sub> is the quantity of soybeans in millions of bushels, P<sub>s</sub> is the price per bushel of soybeans, and P<sub>c</sub> is the price per bushel of corn. The market for corn is characterized by = 18 - P<sub>c</sub> and = P<sub>c -</sub> 0.5P<sub>s</sub>, where Q<sub>c</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium quantity of corn is _____ bushels and that of soybeans is _____ bushels. A) 6 million; 6 million B) 9 million; 9 million C) 6.5 million; 6.5 million D) 16 million; 16 million
= 18 - Pc and The market for soybeans is characterized by = 18 - P<sub>s</sub> and = P<sub>s</sub> - 0.5P<sub>c</sub>, where Q<sub>s</sub> is the quantity of soybeans in millions of bushels, P<sub>s</sub> is the price per bushel of soybeans, and P<sub>c</sub> is the price per bushel of corn. The market for corn is characterized by = 18 - P<sub>c</sub> and = P<sub>c -</sub> 0.5P<sub>s</sub>, where Q<sub>c</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium quantity of corn is _____ bushels and that of soybeans is _____ bushels. A) 6 million; 6 million B) 9 million; 9 million C) 6.5 million; 6.5 million D) 16 million; 16 million
= Pc - 0.5Ps, where Qc is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium quantity of corn is _____ bushels and that of soybeans is _____ bushels.


A) 6 million; 6 million
B) 9 million; 9 million
C) 6.5 million; 6.5 million
D) 16 million; 16 million

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