Consider the market for chicken. Assuming that chicken and beef are substitutes, an increase in the price of beef will:
A) decrease the demand for chicken creating a lower price and a smaller amount of chicken purchased in the market.
B) decrease the supply of chicken creating a lower price and a smaller amount of chicken purchased in the market.
C) increase the demand for chicken creating a higher price and a greater amount of chicken purchased in the market.
D) increase the supply of chicken creating a lower price and a greater amount of chicken purchased in the market.
Correct Answer:
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