Question

Scientists find that eating corn three times a day will prolong life. This leads to a shift in preferences away from wheat and toward corn. As we move from one equilibrium to another, we can predict that:

Answer 1

Answer:

All input market are affected

Explanation:

A market equilibrium is the state of the market state where supply in market is equal to demand in market.

Since, mentioned in the question that due to high nutritional values of corn, there is a shift in the preferences away from the wheat and the toward corn. This means that the input of the market equilibrium is completed changes from the wheat to the corn.

Hence, the input market will be affected is the most right prediction from the case study given.