Poor weather has caused the price of potatoes to rocket from £90 to £250 per tonne!
This increase in price has forced some chip shops to increase the price of chips - 10p more for a bag of chips!
Watch this video HERE for more information!
Things to think about:
This increase in price has forced some chip shops to increase the price of chips - 10p more for a bag of chips!
Watch this video HERE for more information!
Things to think about:
- What is the PES of potatoes in the short run and the long run?
- Are there substitutes?
- What is the impact on complementary goods?
- What are possible solutions to this increase in price?
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