Beef Is a Normal Good

question 150

Multiple Choice

Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time. Which of the following explanations would be most consistent with this observation?

• A)Consumers have experienced an increase in income, and beef-production technology has improved.
• B)The price of chicken has risen, and the price of steak sauce has fallen.
• C)New medical evidence has been released that indicates a negative correlation between a person's beef consumption and life expectancy.
• D)The demand curve for beef must be positively sloped.

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Definitions:

Main Uses Of Freshwater

Primary purposes include drinking, irrigation, sanitation, and industrial processes, highlighting the essential nature of freshwater for life and society.

Water Available For Use

The quantity of water that is accessible for specific uses, such as agriculture, industry, and domestic purposes.

Usable Water

Water that is safe and suitable for human use, including drinking, cooking, and bathing.

Desalination

The process of removing salt and other minerals from seawater to make it suitable for drinking and irrigation.