The number of bushels of corn produced decreased from 14.3 billion bushels in 2018 to 13.7 billion bushels in 2019. Instructions: Round your responses to one decimal place. a. By what percent did the quantity of corn supplied decrease in 2019? Bushels of corn decreased by percent. b. If the price elasticity of demand for corn is 0.2, by how much did price rise? Price rose by [ percent.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The number of bushels of corn produced decreased from 14.3 billion bushels in 2018 to 13.7 billion bushels in 2019.
Instructions: Round your responses to one decimal place.
a. By what percent did the quantity of corn supplied decrease in 2019?
Bushels of corn decreased by
percent.
b. If the price elasticity of demand for corn is 0.2, by how much did price rise?
Price rose by [
percent.
Transcribed Image Text:The number of bushels of corn produced decreased from 14.3 billion bushels in 2018 to 13.7 billion bushels in 2019. Instructions: Round your responses to one decimal place. a. By what percent did the quantity of corn supplied decrease in 2019? Bushels of corn decreased by percent. b. If the price elasticity of demand for corn is 0.2, by how much did price rise? Price rose by [ percent.
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