The fuel additive ethanol is produced from corn. If the government requires that gasoline to be blended with a certain minimum percentage of ethanol, the demand for corn goes up. If corn is, in the long run, an increasing cost industry:

Group of answer choices

The quantity produced of corn will go down and the price of corn will go up

The quantity of corn will go up and the price of corn will go down.

The quantity produced and the price of corn will both go up

We can't answer this question from the information provided.