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.

Question

Maryjane White

Business

23 May, 11:24

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.

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Answers (1)

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Maddox Conrad · Answer 1

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.