Question

The market for corn in Mexico has a large number of sellers and buyers, and there is no difference in the products sold by each seller. As a result, prices are determined by the

Answer 1

Interactions between the sellers and buyers in the market.

Step-by-step explanation:

laws of supply and demand in the Mexican corn market. When there is a surplus of corn, the price tends to decrease as sellers compete to sell their products. Conversely, when there is a shortage of corn, the price tends to increase as buyers compete to purchase the available products. Therefore, the prices are determined by the interactions between the sellers and buyers in the market.