Question 4
a. Ethanol is again viewed as one part of a solution to the problem of shortages of
petroleum products. Ethanol is made from a blend of gasoline and alcohol
derived from corn or sugar cane. What would you expect the impact of this
program to be on the price of corn, soybeans and wheat? Discuss.
[6 marks]
b. Why invest capita in purely competitive industries with equilibrium margins that
are razor thin and entrants that erode quasi profits? Suppose volume is not
exceptionally large, why then?
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
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