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Question: Big Drops in Prices for Crops Make It Tough Down on the Farm Grain prices have fallen roughly 50 percent from earlier this year. With better-than-expected crop yields, world grain production this year will rise 5 percent from 2007 to a record high. Why did grain prices fall in 2008? Draw a graph to show that short-run effect on an individual farmer's economic profit.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93103294

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