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iren [92.7K]
3 years ago
5

Suppose the current issue of The New York Times reports an outbreak of mad cow disease in Nebraska, as well as the discovery of

a new breed of chicken that gains more weight than existing breeds that consume the same amount of food. How will these developments affect the equilibrium price and quantity of chickens sold in the United States?

Business
1 answer:
Svetach [21]3 years ago
4 0

Answer:

Price and quantity of chickens sold will increase.

Explanation:

Due to the prevalence of the mad cow disease, demand for cow meat will go down. Since chicken is a substitute for cow meat and there is a breed that grows twice as much with the same feeds, the demand for chicken will rise.

In economics when other factors apart from price changes it results in demand shift. In this instance demand will shift to the right.

As illustrated in the attached diagram, there will be higher quantity demanded at higher prices than before.

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Archivist because marketers work on what the people will see when buying something and designers plan out things.
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2 years ago
Although people with high incomes appear to be happier than those with low incomes, people in the United States in general have
IrinaK [193]

Answer:

Real GDP is not the direct indication of happiness, because happiness is dependent on a number of other factors, which when combined can result in a happy life.

Explanation:

Real GDP is defined as the measure of the value of the output of the economy, in the macroeconomics, which reflects the money value of all goods and services produced in a given year. Here the output of the economy is also adjusted for the changes in prices occurring in the year.

According the referred application 3 of the book, it is true that the people of United States have become less happy despite the real GDP rise over the last 30 years. This is because the growth of real GDP is not able to cope up simultaneously with the increased workplace stress, jeopardized married life, traffic congestion, health problems and deterioration of environment.

In conclusion, it can be stated that Money does play an important role in increasing the happiness. However the factor alone is not able to cope up with all the problems and this is true only when all the other factors such as a conducive working environment, happy married life, healthy life are also accompanying more money.

7 0
3 years ago
Read 2 more answers
The term? "market" in economics refers to
timurjin [86]
I'm pretty sure it's option D
7 0
3 years ago
2. List and explain the components of the money supply
meriva

Answer:

Currency such as notes and coins with the people.

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Time deposit with the bank such as Fixed deposit and recurring deposit.

4 0
3 years ago
A store that offers a wide variety of shoes for men, women, and children would most likely be considered a(n):
Kisachek [45]

Answer:

The correct answer is: Speciality retailer.

Explanation:

Speciality retailers are stores that operate similarly to regular retailers offering products manufactured by different companies but the focus their attention on a specific niche in the market. <em>Clothing, shoes, books, school supplies, </em>and <em>technology retailers</em> are examples of these types of stores.

4 0
3 years ago
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