In the late 1990s "mad cow" disease caused people to buy less beef.It also caused the EU to ban imported British beef and the British government to ban the sale of older cattle.What is the effect of the following on price and quantity of British beef sold worldwide?
A) Price of British beef falls and quantity sold also falls
B) Price of British beef rises and quantity sold falls
C) Price of British beef falls initially, but regains some of its losses; quantity sold initially rises, then falls
D) Price of British beef falls initially, but regains some of its losses; quantity sold falls
Correct Answer:
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