00:01
For the first question, the fact illustrates the demand, the law of supply or the law of demand.
00:08
The answer is this fact illustrates the law of supply.
00:13
Firstly, we have to go back to the question.
00:16
In the question, we talk about farmers, corn farmers.
00:21
Farmers are usually sublifiers and sailors rather than consumers because they will get hussed from their farms and sellers the fruit veggies to the market to consumers.
00:32
So for farmers, they are suppliers.
00:37
In this case, we talk about the law of supply, rather than the law of demand.
00:41
Secondly, what is the law of supply? the law of supply states other things remain the same.
00:46
The higher the price of goods, the greater is the quantity supply.
00:50
And the lower rate of the price of goods, the smaller is the quantity of life...