Attempts Are Being Made to Develop a Biodegradable Plastic Using

Multiple Choice

Attempts are being made to develop a biodegradable plastic using agricultural produce such as potatoes. Identify a likely impact on the equilibrium price and quantity of potatoes if such attempts are successful, all other things remaining constant.

A) The equilibrium price will increase, and the equilibrium quantity will decrease.
B) The equilibrium price will decrease, and the equilibrium quantity will increase.
C) Both the equilibrium price and quantity will decrease.
D) Both the equilibrium price and quantity will increase.
E) There will be no change in the equilibrium price and quantity.