High School

What will happen to the equilibrium quantity and equilibrium price of potatoes if the population decreases and a new type of potato fungus wipes out 30% of the potato harvest?

Answer :

Final answer:

The equilibrium quantity and price of potatoes are impacted by changes in population and potato harvest due to a new fungus, resulting in potential shifts in supply and demand forces.

Explanation:

Equilibrium quantity and equilibrium price of potatoes will be affected by a decrease in population and a new type of potato fungus wiping out 30% of the harvest. The decrease in population will lead to a lower equilibrium quantity, while the potato fungus reducing the harvest will likely increase the equilibrium price due to a decrease in supply.

Other Questions