a. How does an increase in the use of corn to produce ethanol affect the opportunity cost

Question:

a. How does an increase in the use of corn to produce ethanol affect the of corn?
b. Why would you expect an increase in the quantity of corn produced to raise the of corn?
c. Why did the cost of producing com increase in the rest of the world?
d. Is it possible that the increased quantity of corn produced, despite the higher cost of production, represents a move towards allocative efficiency? Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...