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As a Result of Flooding in June and Too Much

Question 158

Multiple Choice

As a result of flooding in June and too much heat in July and August,the corn crop turns out to be well below average.As a result of the poor weather,


A) both equilibrium price and quantity for corn will rise.
B) both equilibrium price and quantity for corn will fall.
C) equilibrium price will rise and equilibrium quantity for corn will fall.
D) equilibrium price will fall and equilibrium quantity for corn will rise.

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