Production of ethanol, a fuel made from corn, increased more than 8.5 times from 1,630 million gallons
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Production of ethanol, a fuel made from corn, increased more than 8.5 times from 1,630 million gallons in 2000 to 14,340 million gallons in 2014 (http://www.ethanolrfa.org/pages/statistics). Use a supply-and-demand diagram to show the effect of this increased use of corn for producing ethanol on the price of corn and the consumption of corn as food.
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Microeconomics Theory And Applications With Calculus
ISBN: 978-0134167381
4th Edition
Authors: Jeffrey M. Perloff
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