Table 45 -In the Table Given Below, Which of the Following Statements

Table 4.5
$$\begin{array}{l}\text { Table } 4.5\\\begin{array} { | l | c | c | c | c | } \hline & \text { Year 1 } & \text { Year 2 } & \text { Year 3 } & \text { Year 4 } \\\hline \text { Price } & \$ 2 & \$ 3 & \$ 4 & \$ 4 \\\hline \text { Quantity } & 1,000,000 & 200,000 & 1,000,000 & 2,000,000 \\\hline\end{array}\end{array}$$
-In the table given below, which of the following statements is true of the market for corn?

A) In Year 1, there was an excess supply of corn in the economy.
B) In Year 1, the corn market was not in equilibrium.
C) The weather for corn production was probably better in Year 3 than in Year 2.
D) Between Year 3 and Year 4, both the supply and demand for corn must have increased by the same amount.
E) Between Year 2 and Year 3, the demand for corn decreased.

Correct Answer:

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