Use supply-and-demand analysis

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Use supply-and-demand analysis to answer the following question. This means using Figure 1 below actively (or drawing your own graphs). Assume that supply-and-demand analysis is in fact applicable in all the relevant markets. (a) Assume fertilizer prices drop because of a decrease in the prices of inputs in fertilizer manufacture. What is likely to happen to the equilibrium prices and quantities of crops such as corn?

Reference no: EM131006599

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