Question: Corn Prices Fall Back to 2016 Levels as COVID-19 Lockdowns Cut Ethanol Demand Corn prices could drop to their lowest levels in more than a

Corn Prices Fall Back to 2016 Levels as COVID-19 Lockdowns Cut Ethanol Demand Corn prices could drop to their lowest levels in more than a decade as weakness in demand for gasoline pushes the cost of ethanol toward record lows. Most gasoline has 10% ethanol con tent, and ethanol is commonly made from corn. Source: marketwatch.com, April 3, 2020 Why is the price of corn falling? Draw a graph to show the short-run effect on an individual farmer's economic profit.

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