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Shift in demand curve of potatos

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Attempts are being made to develop a biodegradable plastic using agricultural produce such as potatoes. If these attempts are successful, what will happen to the equilibrium price and quantity of potatoes?

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Solution Summary

Solution describes the effect of increased demand of potato due to its use in producing biodegradable plastic.

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In such case, overall demand for potato will increase; ...

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  • BEng (Hons) , Birla Institute of Technology and Science, India
  • MSc (Hons) , Birla Institute of Technology and Science, India
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