Suppose that the Surgeon General releases a study suggesting that steak consumption increases the risk of cancer.As a result of this study,we would predict that the equilibrium quantity of steak will ________ and the equilibrium price of steak will ________.

Question

Quizplus · Accepted Answer

The release of a study suggesting that steak consumption increases the risk of cancer would likely lead to a decrease in demand for steak. As demand decreases, both the equilibrium quantity and the equilibrium price of steak would decrease, following the basic principles of supply and demand.

Suppose That the Surgeon General Releases a Study Suggesting That