Assume that a farmer could just as easily plan corn as well as wheat. Explain what would happen using a supply and demand graph for both markets if suddenly there was a sustained increase in the demand for corn. 
Definitions:
Variable Budget
A budget that adjusts in response to changes in activity levels or other factors, as opposed to a fixed budget.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity, allowing for more accurate forecasting and analysis.
Static Budget
A fixed budget that remains unchanged over a period, regardless of variations in actual sales volume, production levels, or other operating factors.
Variable Budget
Variable Budget is a budget that adjusts based on changes in the volume of activity, allowing expenses to vary in direct proportion to changes in operational levels.
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