QUESTI 10 points Save Answer Suppose a farmer could grow cor

QUESTI 10 points Save Answer Suppose a farmer could grow corn or wheat on his land. What would happen to the supply curve for corn if the market price of wheat shift to the left Oshift to the right O nothing Oshift upward QUESTI 10 points Save Answer Why is the equilibrium price also called the market-clearing price? O because no exchanges are made at this price buy any of the good O because it is the lowest price allowed by the price where quantity supplied are equal QUESTI 10 points Save Answer When a good a selling for higher than its market price, what kind of problem occurs? O market failure O shortage

Solution

1. The correct answer is A.

2. The correct answer is D.

3. The correct answer is C.