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MMLU-Pro / 7324 / Suppose the market price for corn drops from 1,00perbushelto.75 per bushel.…

Problem

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question

Suppose the market price for corn drops from 1,00perbushelto1,00per bushel to .75 per bushel. In reaction to this, the farmers decide to sell one third less corn to the market. Has the supply of corn to the market decrease?
Plain-text mathematical notation (without MathML)
Suppose the market price for corn drops from 1,00perbushelto.75 per bushel. In reaction to this, the farmers decide to sell one third less corn to the market. Has the supply of corn to the market decrease?
Original LaTeX notation
Suppose the market price for corn drops from $1,00per bushel to $.75 per bushel. In reaction to this, the farmers decide to sell one third less corn to the market. Has the supply of corn to the market decrease?

category

economics

options

  1. The supply of corn to the market has increased.
  2. No, the supply of corn to the market has not decreased.
  3. Yes, the supply of corn to the market has decreased.
  4. The supply of corn to the market remained the same.

src

stemez-Economics

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