Recent Question/Assignment

Economic Principles Week 7 Assignment
Read the following article excerpt:
Plant-based diet trend drives consumer demand for alternative mushrooms ABC News, 19 June 2019 https://www.abc.net.au/news/ruraI/2019-06-19/rise-of-the-aIternative-mush room/11217680
Consumers are pushing demand for alternative mushrooms to new highs as plant-based diets become increasingly popular and people seek nutritious meat substitutes.
Victorian mushroom farmer Jason Crosbie's commercial mushroom growing business began with an interest in nature.
He now harvests&about 40 kilogram of shiitake, king brown, oyster mushrooms and lion's mane a week, at his farm in Scotchmans Lead in Central Victoria.
-l noticed the gap in the market and there aren't that many growers of alternative mushroom species around,- Mr Crosbie S?id.
-Demand is growing, people are more consclous of what they are eating and where they source it from.-
He explained king oyster mushrooms and lion's mane were a popular meat substitute among vegetarians and vegans.
Besides its use for a meat substitute the chairman of the Australian Mushroom Growers Association, Tim Adlington, said consumers turned to alternative mushroom varieties for their health benefits.
Task: co-AR/
After justifying the appropriateness of its use, use the model of perfect competition to
support a discussion of the short run and long run prospects for firms producing 'alternative mushrooms', in response to the changed demand conditions.