Evaluate the following statement using economic analysis to back up your reasoning: "Mandating the use of...
Evaluate the following statement using economic analysis to back up your reasoning: "Mandating the use of ethanol in the production of gasoline helps the poor".
Homework Answers
Ans) When government mandates the use of ethanol in the production of gasoline, firms will be obligated to use corn (main source of Ethanol in USA) as an input.
As a result, demand for corn will increase and the the price of corn will also increase. Which, in turn, will help the poor.
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Evaluate the following statement using economic analysis to back
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