Reference no: EM133552238

Question: The growing popularity of quinoa has had an impact on the market for brown rice. With its higher fiber, protein, and iron content, quinoa is replacing brown rice as a staple food for many health-conscious individuals. Draw a supply and demand graph that shows how this increase in demand for quinoa has affected the market for brown rice. Describe what has happened to the equilibrium price and quantity of brown rice. What could brown rice producers do to return the price or quantity to the initial equilibrium price or quantity? Briefly explain if it is possible for brown rice producers to return both the price and quantity to the initial equilibriums without a change in consumer behavior.