Asked by Joseph Smith on Jul 24, 2024
Verified
Which of the following is likely to increase the supply of wheat?
A) An increase in the cost of fertilizer
B) A decrease in the price of bread
C) A decrease in the price of corn
D) An increase in land prices
E) An expectation that the price of wheat will be higher in near future
Fertilizer Cost
The expense associated with purchasing chemical or natural substances used to enhance plant growth and soil fertility.
- Fathom the underpinnings of supply curve transitions.
- Recognize the impact of input prices on production costs and supply.
Verified Answer
MC
Mallory CoelhoJul 24, 2024
Final Answer :
C
Explanation :
A decrease in the price of corn means that farmers will switch to growing more wheat, therefore increasing the supply of wheat.
Learning Objectives
- Fathom the underpinnings of supply curve transitions.
- Recognize the impact of input prices on production costs and supply.