Answer to Question #129615 in Microeconomics for Naina

Question

Previously, dragon fruits (a type of fruit) were not produced locally in Bangladesh and were imported from other countries. Recently, Bangladesh has started producing dragon fruits locally. How will the start of local production affect the market of dragon fruits in Bangladesh? Explain in detail using the Model of Demand and Supply.
In your analysis did you assume ceteris paribus? In which part of your answer was it assumed? Explain in detail.

Answer 1

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