Asked by Helina Abebe on May 09, 2024
Verified
A new wonder diet that results in a dramatic weight loss sweeps through the United States.The key to the diet is to eat large amounts of red meat (beef) but no poultry or carbohydrate-rich foods.As millions of Americans switch to the new diet,we can expect a(n) _____ in the _____ poultry,leading to a shift to the _____ in the _____ curve for poultry and _____ poultry prices.
A) decrease;supply of;left;supply;higher
B) increase;supply of;right;supply;higher
C) decrease;demand for;right;demand;lower
D) decrease;demand for;left;demand;lower
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices.
Poultry Prices
The cost per unit of domesticated birds, such as chickens, turkeys, and ducks, used for meat or egg production.
Beef
Refers to the meat from cattle, often considered in economic terms for its role in the food industry, market dynamics, and trade.
- Analyze the impact of external factors (e.g., diets, technological advances) on demand or supply.
- Assess the role of substitutes and complements in market dynamics.
Verified Answer
JR
Jordan RamseyMay 15, 2024
Final Answer :
D
Explanation :
The diet leads to a decrease in the consumption of poultry, which means there's a decrease in demand for poultry. This decrease in demand shifts the demand curve to the left, resulting in lower poultry prices.
Learning Objectives
- Analyze the impact of external factors (e.g., diets, technological advances) on demand or supply.
- Assess the role of substitutes and complements in market dynamics.