Consider the demand function for processed pork in Canada,
Qequals=171minus−20pplus+20p Subscript bpbplus+3p Subscript cpcplus+0.002Y
where Q is the quantity of pork demanded (measured in millions of kg per year), p is the price of pork,
p Subscript bpb
is the price of beef,
p Subscript cpc
is the price of chicken, and Y is the income of consumers.
Part 2
If the price of beef
increaseincreases
from $4 per kg. to
$4.784.78
per kg., then the demand curve for processed pork will shift to the
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