Consider again the demand and supply functions in Worked-Out Problem 2.2 (page 31). Suppose the government needs

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Consider again the demand and supply functions in Worked-Out Problem 2.2 (page 31). Suppose the government needs to buy 3.5 billion bushels of corn for a third-world famine relief program. What effect will the purchase have on the equilibrium price of corn? How will it change the amount of corn that is bought and sold?
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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