Scenario 5-5 Milk Has an Inelastic Demand, and Beef Has an Elastic

question 88

Multiple Choice

Scenario 5-5
Milk has an inelastic demand, and beef has an elastic demand. Suppose that a mysterious increase in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50 percent.
-Refer to Scenario 5-5. Total consumer spending on milk will

• A) increase, and total consumer spending on beef will increase.
• B) increase, and total consumer spending on beef will decrease.
• C) decrease, and total consumer spending on beef will increase.
• D) decrease, and total consumer spending on beef will decrease.

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