An increase in the price of poultry would lead to
A)a decrease in quantity demanded of fish and an increase in the demand for poultry.
B)a decrease in quantity demanded of poultry and an increase in the demand for fish.
C)an increase in quantity demanded of fish and a decrease in the demand for poultry.
D)an increase in quantity demanded of poultry and a decrease in the demand for fish.

Question

Quizplus · Accepted Answer

An increase in the price of poultry would lead to a decrease in the quantity demanded of poultry because consumers would likely switch to other alternatives such as fish, which becomes relatively cheaper in comparison to poultry. As a result, there would be an increase in the demand for fish. Therefore, the quantity demanded of poultry would decrease while the demand for fish would increase.

An Increase in the Price of Poultry Would Lead to