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Interpret the values of cross-price elasticity of supply calculated for Corn and Soybeans: a) Corn own-price elasticity 0.50 b) Corn cross-price elasticity -0.31 c) soybean

Interpret the values of cross-price elasticity of supply calculated for Corn and Soybeans:

a) Corn own-price elasticity 0.50

b) Corn cross-price elasticity -0.31

c) soybean own-price elasticity 0.38

d) soybean cross-price elasticity -0.50

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