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Macroeconomics Homework Help? - Toffael - 03-24-2014 04:57 PM
Please Help Thanks Guys
1. Suppose a decrease in consumers' income causes a decrease in the demand for chicken and an increase in the demand for potatoes. Which good is inferior and which is normal? How will the equilibrium price and quantity change for each good?
2. In the United States, corn is often used as an ingredient in animal feed for livestock. Why does an increase in the use of corn to make ethanol, an additive that is used in gasoline, raise the price of meat? Use supply and demand curves for the corn market and the meat market to explain your answer.
3. What is the law of supply? Give two examples of how you have observed the law of supply at work.
4. As the price of DVD players has fallen over the last two years, more DVD players have been sold by consumer electronics firms. Is this a violation of the law of supply?
- Berlin - 03-24-2014 05:06 PM
Corn is not only can be used as feed. It can aslo be processed into different types such as flour, germ, grits, and corn golden rice.
Corn is a high nutrient and healthy food eaten by more and more people. You may be interested in these corn processing method here: http://www.oilmachineworld.com/corn-processing-line.html
Corn deep and precise processing can greatly improved its economical and social benefits. You may need a try.