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8 June, 00:03

Assume the market for corn is comprised of many buyers and sellers and resembles perfect competition in general, gasoline in the U. S contains 10% ethanol as an additive. Ethanol in the U. S is made from corn. If the ethanol content in gasoline increases to 20%, this will lead to an increase in the price of other grain crops.

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  1. 8 June, 00:05
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    False. Substitutes shouldn’t increase in price
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