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3 . lonova. Ana and Marcelo Teixeira. Betting on Ethanol, Brazilian Mills Turn Sour on Sugar. Reuters, 3 December 2018, https://www.reuters.com/article/us-brazil-ethanol-insight/betting-on- ethanol-brazilian-mills-turn-sour-on-sugar-idUSKBN1020L7 (6 points) 1)

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3 . lonova. Ana and Marcelo Teixeira. "Betting on Ethanol, Brazilian Mills Turn Sour on Sugar." Reuters, 3 December 2018, https://www.reuters.com/article/us-brazil-ethanol-insight/betting-on- ethanol-brazilian-mills-turn-sour-on-sugar-idUSKBN1020L7 (6 points) 1) Ceteris paribus, (briefly describe the event) (increased/decreased) (demand/supply) for ethanol. 2) Ceteris paribus, (briefly describe the event) (increased/decreased) (demand/supply) for ethanol. 3) The equilibrium price of ethanol will (increase/decrease/be unknown) and equilibrium quantity of ethanol will (increase/decrease/be unknown). 4) Draw one diagram to show the impact of both changes. 5) Graph

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