Suppose a Medical Study Reveals New Benefits to Consuming Beef

question 91

Multiple Choice

Suppose a medical study reveals new benefits to consuming beef and at the same time a bumper corn crop reduces the cost of feeding steers. The equilibrium price of beef will

• A) fall.
• B) perhaps rise, fall, or stay the same, but more information is needed to determine which it does.
• C) stay the same.
• D) rise.

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Definitions:

Lyndon B. Johnson

The 36th President of the United States, serving from 1963 to 1969, known for his domestic policies, including civil rights, public broadcasting, Medicare, and Medicaid.

Philanthropy

The desire to promote the welfare of others, often expressed through generous financial donations to cause-oriented organizations or efforts.

Charity

An organization set up to provide help and raise money for those in need, focusing on humanitarian, educational, or environmental causes.

Warren Buffet

An American investor, business tycoon, and philanthropist, known for his leadership of Berkshire Hathaway and significant charitable contributions.