Multiple Choice
If the price of corn increases relative to other crops:
A) corn production will increase, and corn consumption will increase
B) corn production will increase, and corn consumption will decrease
C) corn production will increase, and corn consumption will remain the same
D) corn production will decrease, and corn consumption will increase
Correct Answer:

Verified
Correct Answer:
Verified
Q9: Economics exists because of:<br>A) markets<br>B) resources<br>C) production<br>D)
Q10: Write an essay that explains the difference
Q11: In a command economy, resources are allocated
Q12: Microeconomics concerns:<br>A) the decisions of individual firms
Q13: If the price of corn increases, then:<br>A)
Q15: A noneconomic good is also called:<br>A) a
Q16: The term, ceteris paribus, in economics means:<br>A)
Q17: When the price of gasoline increases, ceteris
Q18: Define the term, "scarcity," and explain why
Q19: The payment to land is:<br>A) rent<br>B) profit<br>C)