Consider the Market for Chicken

question 93

Multiple Choice

Consider the market for chicken. Assuming that chicken and beef are substitutes, an increase in the price of beef will:

• A) decrease the demand for chicken creating a lower price and a smaller amount of chicken purchased in the market.
• B) decrease the supply of chicken creating a lower price and a smaller amount of chicken purchased in the market.
• C) increase the demand for chicken creating a higher price and a greater amount of chicken purchased in the market.
• D) increase the supply of chicken creating a lower price and a greater amount of chicken purchased in the market.

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