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(Solved): Suppose the demand for corn grown in lowa is perfectly elastic. Due to a fall in cost, if the supply ...



Suppose the demand for corn grown in lowa is perfectly elastic. Due to a fall in cost, if the supply of corn grown in lowa increases, then the price of corn grown in lowa

q,

and the quantity of corn grown in lowa

q,

falls; decreases falls; increases None of these answers are correct. rises; increases rises; decreases



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