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Your financial portfolio analysis firm, Risk Reward Inc., has made steady progress in the last year. As a self-employed individual, you take pride in conducting

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Your financial portfolio analysis firm, Risk Reward Inc., has made steady progress in the last year. As a self-employed individual, you take pride in conducting your own research on market trends. Recently, you have identified technological advances in the production processes of grain harvesting (hint: think of how this will affect the supply of grain output). At the same time, the price of nut flour, a commonly known "substitute in consumption," has been falling rapidly. Since many of your clients have investments in agricultural commodities, it is important that you forecast price fluctuations regularly. Which of the following statements best describes what is likely to happen in the market for grain? a. both the equilibrium price and equilibrium quantity could rise or fall b. the equilibrium price would likely rise, and quantity could go up or down c. the equilibrium price would fall, and quantity could go up or down d. the equilibrium price and equilibrium quantity would both fall by some degree

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