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Suppose that the price of corn is held above its equilibrium price. You would expect to see Group of answer choices a leftward shift of the demand curve because of the high price. a rightward shift of
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Suppose that the price of corn is held above its equilibrium price. You would expect to see Group of answer choices a leftward shift of the demand curve because of the high price. a rightward shift of the demand curve because of the easy availability of corn. a shortage of corn on the market. a surplus of corn on the market.

User Brian Showalter
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Answer:

a surplus of corn on the market.

Step-by-step explanation:

If the price of corn is above equilibrium price, it means that the price of corn is greater than equilibrium price. Due to the high price of corn, suppliers would enter into the market. This would increase the supply of corn. As a result, there would be a surplus supply of corn.

If there price was below equilibrium price, there would be a shortage of corn

As a result of the new price of corn, there would be a movement up along the demand curve for corn and not a shift of the demand curve.

User Eradman
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