Consider the market for corn. Indicate whether each of the following events will cause a rightward shift in the demand curve (select all that apply). A A drought hits corn-growing regions, cutting the supply of corn. B The government announces a new subsidy for biofuels made from corn. A global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good). A new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre. E An advertising campaign by the beef producers' association highlights the health benefits of corn-fed beef.

Consider the market for corn. Indicate whether each of the following events will cause a rightward shift in the demand curve (select all that apply). A A drought hits corn-growing regions, cutting the supply of corn. B The government announces a new subsidy for biofuels made from corn. A global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good). A new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre. E An advertising campaign by the beef producers' association highlights the health benefits of corn-fed beef.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter5: Markets In Motion And Price Controls

Section: Chapter Questions

Problem 1P

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