"One pervasive theory explains the introduction of breakfast cereals in the early 1900s as a result of the growing number of automobiles, which led to a decline in horse ownership and a subsequent grain glut; by persuading people to eat what had previously been horse feed, market equilibrium was restored."
As I write above, I dont understand what 'which' refers to in the sentence. Besides, it says "market equilibrium was restored", why?
Plz help...
As I write above, I dont understand what 'which' refers to in the sentence. Besides, it says "market equilibrium was restored", why?
Plz help...












