If corn and wheat are alternative pursuits for a farmer,a change in the supply of corn will take place when,ceteris paribus,
A)The price of corn changes.
B)The price of wheat changes.
C)The demand for corn changes.
D)Consumers want to buy more corn at the same price.

Question

Quizplus · Accepted Answer

A change in the price of wheat, an alternative crop, can lead to a change in the supply of corn as farmers may shift their production towards or away from corn based on the relative profitability of wheat, holding other factors constant (ceteris paribus).

If Corn and Wheat Are Alternative Pursuits for a Farmer,a