Edible corn in the eyes of consumers is not rice,bread or peanut. People will change from peanut butter or bread to corn soup if their income increased.People will even change to corn oil in their salad. So I would go for normal goods.
Feeding corn cannot be inferior good,because it is a source of protein. People will change from tapioca to feeding corn if people's income increases. It is also a normal good.
In the ethanol market, corn is also better than sugar, or tapioca.It is also a normal good.
The consumption of corn by humans probably makes it an inferior good, but keep in mind that one of the largest uses of corn is as animal feed, and the consumption of meat is definitely a normal good. If you look at any data, keep in mind that the government has distorted the corn market by mandating and subsidizing ethanol use, much of which comes from corn.
In aggregate, it looks like corn is an inferior good in the US. Over a 10 year chart, the demand of corn goes up as the economy worsens and demand declines as the economy improves.
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Edible corn in the eyes of consumers is not rice,bread or peanut. People will change from peanut butter or bread to corn soup if their income increased.People will even change to corn oil in their salad. So I would go for normal goods.
Feeding corn cannot be inferior good,because it is a source of protein. People will change from tapioca to feeding corn if people's income increases. It is also a normal good.
In the ethanol market, corn is also better than sugar, or tapioca.It is also a normal good.
The consumption of corn by humans probably makes it an inferior good, but keep in mind that one of the largest uses of corn is as animal feed, and the consumption of meat is definitely a normal good. If you look at any data, keep in mind that the government has distorted the corn market by mandating and subsidizing ethanol use, much of which comes from corn.
In aggregate, it looks like corn is an inferior good in the US. Over a 10 year chart, the demand of corn goes up as the economy worsens and demand declines as the economy improves.
Inferior except for luring deer or other game for hunting.
It requires processing (beyond husking/cobbing) to be nutritious.
http://en.wikipedia.org/wiki/Nixtamalization
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