Answer
Price increases
Work Step by Step
According to the law of supply, since the number of cattle (the supply) decreases, there will be an increase in the price of cattle.
Macroeconomics: Principles, Problems, & Policies 20th Edition
by McConnell, Campbell; Brue, Stanley; Flynn, Sean
Published by
McGraw-Hill Education
ISBN 10:
0-07766-077-3
ISBN 13:
978-0-07766-077-2
Chapter 3 - Demand, Supply, and Market Equilibrium - Discussion Questions - Page 72: 5
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
