Ethanol Is the Active Ingredient in Alcoholic Beverages, but It's

Essay

Ethanol is the active ingredient in alcoholic beverages, but it's also a good fuel that can be made from a variety of crops like corn or sugar cane. Show how each of the following events would affect the market demand and/or supply of ethanol, as well as the resulting effect on the price of ethanol.
a. The price of oil skyrockets with sudden eruption of war in the Middle East.
b. More parents are concerned about cavities in their children's teeth, resulting from eating candy bars.
c. Alcoholic beverage consumption is declining over time due to increased health warnings.