According to the law of demand, when will higher corn prices reduce the quantity demanded of co

With the definition it could be said, that the law of demand states that, when there is higher corn prices, with all the factor out of the equation, ideally, the demand for corn will decrease. This is because of the idea that alternative goods will replace the higher priced corn. This is called the opportunity cost, the benefit one could get for a certain price, for a certain product.