Ask Question
27 September, 12:59

How might the price of corn affect the supply of wheat, assuming that farmers can plant and harvest both corn and wheat? Check all that apply. As the price of corn rises, the supply of wheat will fall. As the price of corn rises, the supply of wheat remains constant. As the price of corn falls, the supply of wheat will rise. As the price of corn falls, the supply of wheat will fall.

+5
Answers (1)
  1. 27 September, 13:52
    0
    As the price of corn rises, the supply of wheat will fall.

    As the price of corn falls, the supply of wheat will rise.

    Explanation:

    Farmers can plant and harvest both corn and wheat. The farmers will produce a crop that provides higher profit. The crop with higher profit will provide more profit.

    So when the price of corn rises, the farmers will produce more corn. This will increase the supply of corn and reduce the supply of wheat.

    When the price of corn falls, the farmers will produce more wheat. This will increase the supply of wheat and reduce the supply of corn.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How might the price of corn affect the supply of wheat, assuming that farmers can plant and harvest both corn and wheat? Check all that ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers