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Suppose that the quantity of corn supplied depends on the price of corn ( P ) and the amount of rainfall ( R ). The

Suppose that the quantity of corn supplied depends on the price of corn (P) and the amount of rainfall (R). The demand for corn depends on the price of corn and the level of disposable income (I). The equations describing the supply and demand relationships are Qs = 20R + 100P and Qd = 4000 100P + 10I.

a)Sketch a graph of demand and supply curves (1 marks)

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