2. Beef supplies are sharply reduced because of drought in the beef –raising states, and consumers turn turn to pork as a substitute for beef. How would you illustrate this change in the beef market in supply and demand turns
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Answer:
just because of drought beef supplies reduce which will cause High price of beef , so people start to find substitute which will cheaper than that beef so they turn to pork which shows the demand of beef
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Explanation:
The supply curve for beef should shift leftward (or upward), to reflect the drought. This causes the price of beef to rise, and the quantity consumed to decrease.
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