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What is the likely effect on the equilibrium price

Question # 00510773
Subject: Economics
Due on: 04/12/2017
Posted On: 04/12/2017 05:58 AM

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What is the likely effect on the equilibrium price and quantity of corn if the government requires ethanol (a corn byproduct) to be added to all gasoline to reduce emissions? This question is separate from and independent of the first question. Which curve(s) is (are) affected by this new government regulation (supply, demand, both, or neither)? Your answer must indicate the effect of that government regulation on the equilibrium price of corn (did the price go up, go down, or remain unchanged?). Your answer must also indicate the effect on equilibrium quantity (did it increase, decrease, or remain unchanged?).


Tags price equilibrium effect likely corn price government equilibrium effect remain answer indicate unchanged regulation quantity question supply increase decrease affected demand emiions added byproduct ethanol requires gasoline reduce independent separate likely curves

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What is the likely effect on the equilibrium price

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