consider the market for corn in August 2020, a period where grain prices were quite low and the market for corn was in a short-run equilibrium. Draw a graph that shows supply and demand analysis for corn in August 2020 (put P on the vertical axis and Q on the horizontal axis). This graph will serve as a starting point for your analysis in Questions 2 and 3.In drawing this graph, please assume that the demand curve is downward sloping and supply curve is upward sloping Clearly show the market equilibrium in August 2020. Label the supply curve as S0; demand curve as D0; the equilibrium price as P0; and equilibrium quantity as Q0.

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