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Title: During the 1990s positive technological change in the production of chicken caused the price of chic Post by: Tidy on Jun 20, 2015 During the 1990s positive technological change in the production of chicken caused the price of chicken to fall. Holding everything else constant, how would this affect the market for pork (a substitute for chicken)?
A) The supply of pork would increase and the equilibrium price of pork would decrease. B) The demand for pork would decrease and the equilibrium price of pork would decrease. C) The demand for pork would increase because consumers could afford to buy more chicken and pork. D) The demand for pork would decrease and the equilibrium price of pork would increase. Title: Re: During the 1990s positive technological change in the production of chicken caused the price of Post by: Sydnie on Aug 10, 2015 Content hidden
Title: Re: During the 1990s positive technological change in the production of chicken caused the price of chic Post by: Sydnie on Aug 31, 2015 I was confident with my answer, glad it was correct.
Oh, and thumbs-up are more than welcome :) |