Demand, Consumer theory, Supply and demand
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Demand, Consumer theory, Supply and demand


  • Undergraduate
  • 1187

Short excerpt:

If the demand for corn increases due to its use as an alternative energy source, what will happen to the supply of corns substitute such as soybean Assume that, besides being substitutes for one another, corn and soybeans require the same raw material, such as the same farmland. Think about whether farmers will use their soybean farms to produce more or less corn. Explain, in economic terms e.g. supply determinants, why this is so.

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