Assignment Task: Researchers at Kansas State University are developing a new variety of sorghum that has greater nutritional value and has a greater yield (i.e., production per hectare of land). Consider a scenario where the introduction of the new variety in Ethiopia increases sorghum demand by 5% and increases sorghum supply by 10%. Assume the supply elasticity for sorghum in Ethiopia is 0.4 and the demand elasticity is -1.5.
Which of the following graphs best illustrates the effect of introducing the new sorghum variety on the sorghum market in Ethiopia?