1. Soybeans currently sell at a price of $3/lb. The New England Journal of Medicine recently published an article concerning the

Question

3 years ago

9

1. Soybeans currently sell at a price of $3/lb. The New England Journal of Medicine recently published an article concerning the

cardiovascular benefits of eating soy in every meal. What will happen to the equilibrium price and quantity for soybeans?

History

1 answer:

solong [7] · Answer 1 · 2022-04-14T16:59:24+03:00

The correct answer to this open question is the following.

Although there are no options attached, we can say the following.

What will happen to the equilibrium price and quantity for soybeans is that the price will accordingly increase to fit the demand.

If soybeans currently sell at a price of $3/lb, this price will be altered by the article published by the New England Journal of Medicine. The article refers to the cardiovascular benefits of eating soy in every meal. People would be motivated to include soy in every meal as part of their daily diet. This will affect the demand because the supply is limited. The consequence, a considerable rise in the soybean price due to the excess demand.