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Answer the following questions. Use diagrams where appropriate. Question: Increased demand for biofuels is increasing the global demand for corn. If the corn producing industry

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Answer the following questions. Use diagrams where appropriate. Question: Increased demand for biofuels is increasing the global demand for corn. If the corn producing industry has many of the characteristic perfect competition: 1 2 points Use a diagram to describe the effects of the increased demand for biofuels on the market equilibrium for corn

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