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Juliette [100K]
3 years ago
8

Suppose that the price of corn is above its equilibrium price. You would expect to see:________.

Business
1 answer:
alisha [4.7K]3 years ago
5 0

Answer:

D

Explanation:

If the price of corn is above its equilibrium price, corn becomes more expensive to consumers. As a result, they reduce the quantity demanded of corn. there would be a movement along the demand curve for corn and not a shift of the demand curve.

Quantity supplied would also increase as a result of the high price. The fall in quantity demanded coupled with the rise in quantity supplied would lead to a surplus. Due to the surplus, sellers would reduce price until price falls to equilibrium price

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| 50 POINTS | If The Oil Prices Around The World Rise , What Will Happen To The Oil Production In Texas?
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