Beef Industry Supply and Demand
Many people in the United States purchase beef on a regular basis. The amount as beef purchased in a given period depends on supply and demand. Demand is a curve that shows the amount of a product consumers are willing and able to purchase at different prices during a certain period of time (McConnell 2005). Six determinants of demand include
* Change in buyer tastes
* Change in number of buyers
* Change in income
* Change in the price of related goods.
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