In the NPR news story "The Cost Of Corn Is Down, So Why Did The Cost Of Fritos At The White House Go Up?" , a reporter notes: "I came up to the employee break room to buy myself a bag of Fritos. And I noticed that the bag of Fritos had gone from a dollar and a quarter, the old price, to the new price of a buck and a half. And I had just written that corn futures had fallen 12 percent since May. So this was kind of puzzling to me." Another reporter notes: "So our mystery-why are corn chips getting more expensive at a time when corn is getting cheaper?" Suppose that corn chips like Fritos have a number of close substitutes and hence short-run changes in the market can be analyzed using a demand and supply framework. Then, which of the following could be valid explanations for the puzzling short-run increase in price as discussed in the quotes above? Choose all that apply. There may be more than one correct explanation. 1. Cost of labor and transportation, other important components of the variable cost of corn chips, has gone up (more than offsetting the decline