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Part 1 and 2 quik plz will give good review Part 1 (1 point) See Hint The graph shows a price floor (Pfir) that at

Part 1 and 2 quik plz will give good review

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Part 1 (1 point) See Hint The graph shows a price floor (Pfir) that at first happens to lie exactly at the equilibrium price for corn. The floor is intended to shore up the price of corn but is currently nonbinding. Then a new law about the use of (corn-derived) ethanol in gasoline causes a change in demand. Drag the appropriate curve to illustrate what happens if the change causes the floor to become binding. To refer to the graphing tutorial for this question type, please click here. Part 2 (1 point) See Hint When a price floor becomes binding due to the change in the demand for corn, the result will be

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