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The Market for Soybeans Is Characterized by = 21

Question 97

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The market for soybeans is characterized by The market for soybeans is characterized by = 21 - P<sub>S</sub> and = 2P<sub>S</sub> - P<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 = 21 - P<sub>C</sub> and = 2P<sub>C</sub> <sub>-</sub> P<sub>S</sub>, where Q<sub>C</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium price of soybeans is ____ and the equilibrium quantity of soybeans is ____million bushels. A) $11; 10 B) $10; 10 C) $10.50; 10.5 D) $10.75; 10.25 = 21 - PS and The market for soybeans is characterized by = 21 - P<sub>S</sub> and = 2P<sub>S</sub> - P<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 = 21 - P<sub>C</sub> and = 2P<sub>C</sub> <sub>-</sub> P<sub>S</sub>, where Q<sub>C</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium price of soybeans is ____ and the equilibrium quantity of soybeans is ____million bushels. A) $11; 10 B) $10; 10 C) $10.50; 10.5 D) $10.75; 10.25
= 2PS - PC, 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 = 21 - P<sub>S</sub> and = 2P<sub>S</sub> - P<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 = 21 - P<sub>C</sub> and = 2P<sub>C</sub> <sub>-</sub> P<sub>S</sub>, where Q<sub>C</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium price of soybeans is ____ and the equilibrium quantity of soybeans is ____million bushels. A) $11; 10 B) $10; 10 C) $10.50; 10.5 D) $10.75; 10.25
= 21 - PC and The market for soybeans is characterized by = 21 - P<sub>S</sub> and = 2P<sub>S</sub> - P<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 = 21 - P<sub>C</sub> and = 2P<sub>C</sub> <sub>-</sub> P<sub>S</sub>, where Q<sub>C</sub> is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium price of soybeans is ____ and the equilibrium quantity of soybeans is ____million bushels. A) $11; 10 B) $10; 10 C) $10.50; 10.5 D) $10.75; 10.25
= 2PC - PS, where QC is the quantity of corn in millions of bushels. In general equilibrium, the equilibrium price of soybeans is ____ and the equilibrium quantity of soybeans is ____million bushels.


A) $11; 10
B) $10; 10
C) $10.50; 10.5
D) $10.75; 10.25

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