The following figure is a contour diagram for the demand for pork as a function of the price of pork and the price of beef. Which axis corresponds to the price of beef?

Question

Quizplus · Accepted Answer

Looking at the contour diagram, as we move up the y-axis (vertically), the demand for pork increases while keeping the price of pork constant. This means that the y-axis corresponds to the variable that affects the demand for pork, which is the price of beef. Therefore, the correct answer is B.

The Following Figure Is a Contour Diagram for the Demand