Researchers find a new strain of genetically modified seeds that result in a higher yield for corn producers.Holding all other things constant,this research will:
A)shift the supply curve for corn left.
B)increase the quantity supplied of corn.
C)decrease the quantity supplied of corn.
D)shift the supply curve for corn to the right.

Question

Quizplus · Accepted Answer

The new strain of genetically modified seeds will increase the productivity of corn producers, resulting in higher output for the same cost. This will shift the supply curve for corn to the right, increasing the quantity supplied of corn at every given price, thus leading to a lower equilibrium price and a higher equilibrium quantity.

Researchers Find a New Strain of Genetically Modified Seeds That