Refer to the information provided in Figure 3.11 below to answer the questions that follow. Figure 3.11
-Refer to Figure 3.11. An increase in the number of cattle ranchers will cause a movement from

Question

Refer to the information provided in Figure 3.11 below to answer the questions that follow.  Figure 3.11
-Refer to Figure 3.11. An increase in the number of cattle ranchers will cause a movement from

Quizplus · Accepted Answer

An increase in the number of cattle ranchers will increase the supply of beef, shifting the supply curve from S2 to S1. The demand curve remains the same at D1, resulting in a new equilibrium point at Point E. This movement from S2 to S1 is illustrated in the diagram by the shift from the point G to F. Points A and B are not relevant to a change in the number of cattle ranchers. D2 to D1 would be applicable if there was a change in demand, but no information is given in the diagram about a change in demand.

Refer to the Information Provided in Figure 3