4. In the corn market, demand often exceeds supply and supply sometimes exceeds demand. The price of

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4. “In the corn market, demand often exceeds supply and supply sometimes exceeds demand.” “The price of corn rises and falls in response to changes in supply and demand.” In which of these two statements are the terms “supply” and “demand”

used correctly? Explain. LO3.3

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Economics

ISBN: 9781259723223

21st Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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