Question

3. If the Wall Street Journal published an article w/ the headline "Poultry Farmers Detect Infectious Avian Bird Flu," what would happen to the demand curve for chicken? What good or service is being changed in the scenario? What is the determinant of demand that caused the change?

Answer 1

Answer:

If such a headline was published, the demand for chicken and its byproducts would plummet. The demand curve would shift to the left, meaning that the quantity demanded would decrease at all price levels.

The quality of the chicken and its byproducts has changed here, since they would turn into potentially unhealthy food.

The determinant of the demand for chicken products that is altered by this article is consumer preferences. The health of consumes is at risk, which would alter their preferences due to fear of getting sick.