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.
Answer:
The correct answer is option B.
Explanation:
Profit maximization refers to the situation when a firm is able to maximize the total profit that it could earn through the production of goods and services.
The total profit is maximized when the marginal profit is zero or when the marginal revenue is equal to marginal cost. The marginal profit is the difference between marginal revenue and marginal cost.
If the marginal revenue is greater than the marginal cost the firm should increase production till both are equal.
In case, marginal revenue is less than the marginal cost the firm should stop producing more and reduce production till both are equal.
Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.
The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.
Based on the provided information, the motivation for using a mobile application is socializing.
<h3>What is a Mobile app?</h3>
Mobile app can be regarded as computer program that is been run on mobile tablet for various purposes.
Therefore, Flipboard app on his or her smartphone to get full-screen magazines, multiple news serves a social propose.
Learn more about Mobile app at;
brainly.com/question/917245
