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Author Question: Assume that corn and soybeans are alternatives that could be grown by most farmers. An increase in ... (Read 73 times)

Cooldude101

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on: Jul 1, 2018
Assume that corn and soybeans are alternatives that could be grown by most farmers. An increase in the price of corn will
 a. increase the supply of corn
  b. increase the supply of soybeans
  c. decrease the supply of soybeans
  d. decrease the supply of corn
  e. have no effect on the supplies of corn and soybeans

Question 2

An increase in the price of a good normally increases the
 a. demand for its substitutes
  b. supply of complements for the good
  c. purchasing power of consumers' dollar incomes
  d. money income of the consumer
  e. quantity demanded of all goods that are unrelated to the good in question


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Kingjoffery

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


Cooldude101

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  • Posts: 557
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

bitingbit

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  • Posts: 323
Reply 3 on: Yesterday
Great answer, keep it coming :)

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