Over a six-month period in 2007, the price of corn increased by almost 70% as a result

Question:

Over a six-month period in 2007, the price of corn increased by almost 70% as a result of increased demand for ethanol biofuel.

a. What signal does the dramatic price increase give buyers and farmers?

b. How does the price change impact buyers’ and farmers’

incentives?

c. How do you think buyers and farmers responded to the dramatic price increase?

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Answered By

Gauri Hendre

I worked as EI educator for Eduphy India YT channel. I gave online tutorials to the students who were living in the villages and wanted to study much more and were preparing for NEET, TET. I gave tutions for topics in Biotechnology. I am currently working as a tutor on course hero for the biochemistry, microbiology, biology, cell biology, genetics subjects. I worked as a project intern in BAIF where did analysis on diseases mainly genetic disorders in the bovine. I worked as a trainee in serum institute of India and Vasantdada sugar institute. I am working as a writer on Quora partner program from 2019. I writing on the topics on social health issues including current COVID-19 pandemic, different concepts in science discipline. I learned foreign languages such as german and french upto A1 level. I attended different conferences in the science discipline and did trainings in cognitive skills and personality development skills from Lila Poonawalla foundation. I have been the member of Lila poonawalla foundation since 2017. Even I acquired the skills like Excel spreadsheet, MS Office, MS Powerpoint and Data entry.

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