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Yuliya Bolotova

Faculty
Assistant Teaching Professor
Area of Expertise: 
Agricultural Economics
Industrial Organization

When does it become profitable for agricultural products to find alternative uses?

Abbreviated Question: 
When does it become profitable for agricultural products to find alternative uses?
Answer: 

If the principle has a name, I suppose it would be DIVERSIFICATION. But, given the inclusion of the words “boards to research new uses for their product,” the questioner may also be asking about how do agricultural industries decide whether to create a board to research new products?