Suppose the market price of corn is $5 a bushel but the government sets a price of $7. as a

a. the private demand will increase over time until $7 is the market price.
b. the government must purchase the surplus to maintain the price.
c. there is a shortage of corn.
d. farmers will reduce planting until the market price is $7.

B - The government must purchase the surplus to maintain the price.

Alternative - choice

Explanation: In simple words, alternative refers to the available possibilities in a decision making, that will, result in same or similar level of satisfaction for the decision maker.

In the given case, the individual wants to decide whether he or she should buy flexible or rubber goggles. Both of the alternatives will result in almost same level of satisfaction.

Hence from the above we can conclude that the given case depicts the problem of choosing between close alternatives.