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The occurrence of drought conditions in the corn market will Result in a deadweight loss to society. Lower consumer surplus. Increase the price of corn.

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The occurrence of drought conditions in the corn market will Result in a deadweight loss to society. Lower consumer surplus. Increase the price of corn. All of the above. Firm's under conditions of perfect competition will Will face barriers to entry. Have no real impact/influence on price. Will face a few other competitors in the market. None of the above. Marginal cost is the additional cost created by the next, or marginal unit of the variable input. True False

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