Asked by Jeanna Ramig on May 10, 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 _____ beef,leading to a shift to the _____ in the _____ curve for beef and _____ beef prices.
A) increase;demand for;right;demand;higher
B) increase;demand for;right;demand;lower
C) decrease;supply of;left;supply;higher
D) decrease;demand for;left;demand;higher
Demand Curve
A graph showing how the quantity of a good or service demanded by consumers changes at different prices.
Beef Prices
The market cost of beef, influenced by factors like supply, demand, feed costs, and market conditions, directly affecting both consumers and producers.
Beef
Meat derived from cattle, recognized for its nutritional value and used in various cuisines worldwide.
- Assess the role of external factors, for instance, nutritional practices and technological advancements, in impacting supply or demand.
- Distinguish between movements along the curve and shifts of the curve in supply and demand analysis.
Verified Answer
MY
MAYRA YANEZMay 11, 2024
Final Answer :
A
Explanation :
The new diet will lead to an increase in the demand for beef, which will shift the demand curve for beef to the right. As a result, the price of beef will increase because there will be more people willing to buy it.
Learning Objectives
- Assess the role of external factors, for instance, nutritional practices and technological advancements, in impacting supply or demand.
- Distinguish between movements along the curve and shifts of the curve in supply and demand analysis.