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This exercise examines the effect of a bad weather season in Missouri on the price of soybeans in the United States and daily wages of
This exercise examines the effect of a bad weather season in Missouri on the price of soybeans in the United States and daily wages of soybean harvesters in Illinois. Assume that buyers of soybeans have no preference for soybean grown in Missouri versus Illinois. On the following graph, show the effect the bad weather season in Missouri has on the market for soybeans in the United States by shifting either the demand curve, the supply curve, or both
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