1. Consider the market for corn. Indicate whether each of the following events will cause a shift in the supply curve or a movement along the curve. If it will cause a shift, specify the direction. Please provide brief explanation. a. A drought hits com-growing region. b. The government announces a new subsidy for biofuels made from corn. c. A global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good). (1. A new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre