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Tidy Tidy
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9 years ago
Suppose a positive technological change in the production of disease-resistant corn caused the price of corn to fall. Holding everything else constant, how would this affect the market for wheat (a substitute for corn)?
A) The supply of wheat would increase and the equilibrium price of wheat would decrease.
B) The demand for wheat would decrease and the equilibrium price of wheat would decrease.
C) The demand for wheat would increase because consumers could afford to buy more wheat and corn.
D) The demand for wheat would decrease and the equilibrium price of wheat would increase.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 1358 times
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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SydnieSydnie
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Tidy Author
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9 years ago
this is exactly what I needed
54321abs
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Yesterday
Good timing, thanks!
bbbbbbbh
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2 hours ago
Thank you, thank you, thank you!
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