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Unformatted text preview: 2. (28 pts) Historically High Grain Prices Grain prices are at historically high levels. (a. 10 pts) Use supply and demand to demonstrate the cause and impact of the high grain prices. Be sure to explain the graph carefully, and identify all components of the graph. (b. 4 pts) What are the implications of the high grain prices for huger and low-income nations? (c. 10 pts) Use a supply and demand graph of each of five inputs (labor, chemicals, fertilizer, machinery, and land) to demonstrate the impact of high grain prices on each input market. (d. 4 pts) What are the environmental impacts of the high grain prices? How does this relate to your answer in (a) above? 3. (8 pts) Market Structures Last Essay (!) Write an solid, carefully thought-out, high-quality essay on the most important thing that you have learned in this class. Be sure to carefully explain why it is important to you, and how it will affect your future....
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This note was uploaded on 04/29/2008 for the course AGEC 505 taught by Professor Barkley during the Spring '08 term at Kansas State University.
- Spring '08