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Two farmers, Harold and George, produce corn and sugarcane respectively. They trade a ton of corn for a ton of sugarcane every year. This year,
Two farmers, Harold and George, produce corn and sugarcane respectively. They trade a ton of corn for a ton of sugarcane every year. This year, however, the sugarcane yield declines drastically due to a cane grub pest attack. Assuming farmers are monopolists, identify the correct statement from the following
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