Multiple Choice
Suppose you observe a decrease in the equilibrium price and quantity of corn. Of the options listed below, this is best explained by:
A) a decrease in the cost of growing corn.
B) an increase in the cost of growing corn.
C) a rise in consumer income assuming corn is a normal good.
D) a fall in consumer income assuming corn is a normal good.
Correct Answer:
Verified
Correct Answer:
Verified
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