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Assume the domestic price of corn is $1.00 and the quantity of corn produced is 100 tons.
If the world price of corn exceeds $1.00, then U.S. producers will produce Blank______ than 100 tons of corn,
creating a Blank______ that will be Blank______.
Multiple choice question.
A. Less; shortage; exported
B. Less; shortage; imported
C. More; surplus; imported
D. More; surplus; exported



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