Briefly explain whether each of the following represents a shift in supply or a change in quantity

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Briefly explain whether each of the following represents a shift in supply or a change in quantity supplied. Use a graph to illustrate your answer.

a. An increase in the use of corn in the production of ethanol has raised the cost of corn to farmers who use it as livestock feed.

b. Speculators in world steel markets push the price of steel up, leading Canadian steel companies to expand production.

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Principles Of Macroeconomics

ISBN: 9781982166649

1st Canadian Edition

Authors: Betsey Stevenson, Justin Wolfers, Philip Oreopoulos, Kevin Milligan

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Question Posted: Nov 12, 2024 09:03 AM

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Briefly explain whether each of the following represents a shift in supply or a change in quantity

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Principles Of Macroeconomics

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