all 29 1 1 23 PM Suppose a farmer could grow corn or wheat

?? all 29% 1 1 :23 PM 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 doubled? shift to the left shift to the right nothing shift upward QUESTI 10 points Save Answer Why is the equilibrium price also called the market- clearing price? because no exchanges are made at this price because it is the highest price at which people will buy any of the good because it is the lowest price allowed by the government because it is the only price where quantity demanded and quantity supplied are equal Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers Save and Submit ?

Solution

Ans for 1st question

If the Price of Corn or wheat doubled in near time then demand curve will shift to right

Hence option B is correct answer

Ans for 2nd question

Equilibrium Price is called as market clearng price when quantity demanded equals quantity supplied.

Hence option D is correct answer