Use the supply and demand model to analyze how each of the following events will affect the poultry market (i.e. the price and quantity of chicken sold):
a. Consumers decide that they need to freeze a lot of chicken for future consumption.
b. Slaughterhouse workers refuse to show up unless given higher wages and better health care.
c. Many restaurants temporarily shut down.
d. The price of grain and other chicken feed falls.
f. Gyms close, causing people to eat more carbs and less protein.
g. Limitations on travel make transporting meat more expensive.
a) because the customers decide to freeze consumption this can reduce the demand as a result of which the demand curve shift to the left and the equilibrium price decreases and equilibrium quantity
b) because the slaughter house workers refused to show up with which the supply decreases as a result of which is supply curve shift to the left and equilibrium price increases and equilibrium quantity decreases
c) if many restaurants temporary shutdown the supply of chicken will reduce as a result of the supply curve shift the left and equilibrium price increases and the equilibrium quantity decreases
d) is the price of input factor such as grain and feed falls,then at the same budget more amount of chicken can be produced as a result of UG supply increases in the supply curve shift to the right and equilibrium price decreases and equilibrium quantity increases.
As per HOMEWORKLIB POLICY only 1st 4 can be answered
Use the supply and demand model to analyze how each of the following events will affect...
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