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Due to favorable weather conditions, the corn crop has been flourishing in the last few years. The following table presents the data: Year Quantity (millions

Due to favorable weather conditions, the corn crop has been flourishing in the last few years. The following table presents the data:

Year Quantity (millions of tonnes per year) Price per Kg

2016 165 $8.00

2017 175 $6.00

a.What does the table signify about the market forces of demand and supply?

b.What factors are responsible for a price change in this example?

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