The Cost of Raising Beef Cattle Has Risen at the Same

question 198

Multiple Choice

The cost of raising beef cattle has risen at the same time as consumer preference for beef has fallen.In the market for beef, this would be represented by the equilibrium price ________ and the equilibrium quantity ________.

• A)increasing; increasing or decreasing
• B)increasing or decreasing; decreasing
• C)decreasing; increasing or decreasing
• D)increasing or decreasing; increasing

---

Definitions:

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay.

Perfected Interest

A legal claim or lien that has been formally established to secure priority over other claims concerning the same asset or property.

Repossession

The process by which a creditor takes back property from the borrower, due to failure to make required payments.

Security Interest

A legal claim or right granted in an asset as collateral to ensure the fulfilment of an obligation, typically repayment of a loan.