If there is a market for leather but a new synthetic product that can replace leather in briefcases, furniture, etc. is introduced into the market but it cannot replace leather in shoes how will this affect supply and demand curves in the leather market (shifts in demand supply etc.), and how will that affect the market for shoes?
If there is a market for leather but a new synthetic product that can replace leather in briefcases, furniture,
etc. is introduced into the market but it cannot replace leather in shoes how will this affect supply and demand curves in the leather market (shifts in demand supply etc.), and how will that affect the market for shoes?
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