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In: Economics

Find the mistake in the following statement. Draw a supply-and-demand graph to illustrate your answer. “A...

Find the mistake in the following statement. Draw a supply-and-demand graph to illustrate your answer.

“A study shows that eating a clove of garlic a day can help prevent heart diseases, causing many consumers to buy more garlic. Higher demand results in a rise in the price of garlic. Consumers, seeing higher prices, will reduce the demand for garlic and the price for garlic will fall. It remains to be seen if the new study on garlic will boost the prices for garlic.”

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Rahul Sunny answered 1 year ago
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