In 2016, the price of corn fell and some corn farmers switched from growing corn in 2017

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In 2016, the price of corn fell and some corn farmers switched from growing corn in 2017 to growing soybeans.

a. Does this fact illustrate the law of demand or the law of supply? Explain your answer.

b. Why would a corn farmer grow soybeans?

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Microeconomics Canada In The Global Environment

ISBN: 9781556520617

11th Edition

Authors: Michael Parkin, Robin Bade

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Question Posted: Nov 05, 2024 08:00 AM

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In 2016, the price of corn fell and some corn farmers switched from growing corn in 2017

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Microeconomics Canada In The Global Environment

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