How the change has affected the equilibrium price


Problem

Americans' tastes have shifted away from beef and toward chicken. Predict how this change has affected the equilibrium price and quantity in the market for beef, the market for chicken, and the market for roadside hamburger stands. Draw supply and demand diagrams to illustrate your answers.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: How the change has affected the equilibrium price
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