From May 2010 to February 2011, the price of corn increased by 100 percent and some barley growers on the Praries stopped growing barley and started to grow corn.a. Does this fact illustrate the law of demand or the law of supply? Explain your answer.b. Why would a barley farmer grow corn?

From May 2010 to February 2011, the price of corn increased by 100 percent and some barley growers on the Praries stopped growing barley and started to grow corn.
a. Does this fact illustrate the law of demand or the law of supply? Explain your answer.
b. Why would a barley farmer grow corn?

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Related Book For answer-question

Macroeconomics Canada in the Global Environment

8th edition

Authors: Michael Parkin, Robin Bade

ISBN: 978-0321778109