Consumers eating higher food costs The price of milk rese about 21% from July 2006 to July 2007 At the same time with higher ganolee prices, the demand for ethanol increased Because ethanol in made from com and cows which in turn increased the price of milk, cheese, and the last foods that use cheese the price of con r Sou USA TODAY, September 6, 2007 Use a graph to show why the higher price of coma The graph shows the market for m Draw a curve to show the effect of the higher price of com Label Draw a point at the new market equi 3.36 Pret per g A 250 20 2.50 P Ma chouand si si se re Draw only the tech speed in the seria se 880

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Consumers eating higher food costs
The price of milk rese about 21% from July 2006 to July 2007 At the same time with higher gasoline prices, the
demand for ethanol increased. Because ethanol is made from com and cows eat com, the price of con rose
which in turn increased the price of milk, cheese, and the fast foods that use cheese
Source USA TODAY, September 6, 2007
Use a graph to show why the higher price of com affects the price of mik
CD
The graph shows the market for mi
Draw a curve to show the effect of the higher price of com on the market for milk Label
Draw a point at the new market equilibrium
3.56
Price (datars per ga
300
250
230
150
D
140
100 130 140
ve 1910
Mahousands of guions per day)
Draw only the steects speciled in the question
2.50
Transcribed Image Text:Consumers eating higher food costs The price of milk rese about 21% from July 2006 to July 2007 At the same time with higher gasoline prices, the demand for ethanol increased. Because ethanol is made from com and cows eat com, the price of con rose which in turn increased the price of milk, cheese, and the fast foods that use cheese Source USA TODAY, September 6, 2007 Use a graph to show why the higher price of com affects the price of mik CD The graph shows the market for mi Draw a curve to show the effect of the higher price of com on the market for milk Label Draw a point at the new market equilibrium 3.56 Price (datars per ga 300 250 230 150 D 140 100 130 140 ve 1910 Mahousands of guions per day) Draw only the steects speciled in the question 2.50
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