Economics for Today 9th Edition by Irvin Tucker

Exercise 1

Consider the market for chicken. An increase in the price of beef will
A) decrease the demand for chicken, resulting in a lower price and a smaller amount of chicken purchased in the market.
B) decrease the supply of chicken, resulting in a higher price and a smaller amount of chicken purchased in the market.
C) increase the demand for chicken, resulting in a higher price and a greater amount of chicken purchased in the market.
D) increase the supply of chicken, resulting in a lower price and a greater amount of chicken purchased in the market.