Consider the market for corn. indicate whether each of the following events will cause a shift in the demand curve or a movement along the curve. if it will cause a shift, specify the direction. a. a drought hits corn-growing regions, cutting the supply of corn: . b. the government announces a new subsidy for biofuels made from corn: . c. a global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good): . d. a new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre: .
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Consider the market for corn. indicate whether each of the following events will cause a shift in th...
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