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Consider the following events: In 2016, Researchers from School of Medicine, the University of Adelaide, Adelaide, SA, Australia showed that obesity prevalence is positively associated
Consider the following events: In 2016, Researchers from School of Medicine, the University of Adelaide, Adelaide, SA, Australia showed that obesity prevalence is positively associated with wheat availability, and at the same time, researchers in International Maize and Wheat Improvement Center (CIMMYT) have devised a new hybrid of wheat that raises the amount farmers can produce from each acre of land by 20 percent. Illustrate and explain what effect these changes have on the equilibrium price and quantity of wheat.
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