Which would you see as a result on the graph

Reference no: EM133659817

Problem: In the videos we discussed how a change in the price of one good (a related good) can affect the supply of another good. You are a farmer and you are currently supplying (growing) soybeans. You COULD (if you wanted to) supply corn instead. Assume you are looking at a graph of your supply curve for soybeans. Assume something happens out in the world that makes the price of corn increases significantly. Which would you see as a result on the graph that you're looking at, knowing that the two are substitutes in production?

Reference no: EM133659817

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