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14 October, 11:05

The price of beef rises significantly, what will happen in the market for fast-food hamburgers assuming nothing else happens in the market?

A. Supply decreases, pushing prices lower.

B. Supply increases, pushing prices lower.

C. Supply decreases, pushing prices higher.

D. Supply increases, pushing prices higher.

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Answers (1)
  1. 14 October, 12:29
    0
    Option (c) is correct.

    Explanation:

    We know that beef is used as an ingredient or input in making hamburgers. If the price of the input i. e beef increases then as a result supply of hamburgers decreases because of the higher cost of production. This will shift the supply curve leftwards, its shows that lesser supply with same level of demand will lead to higher prices of hamburgers.
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Home » Business » The price of beef rises significantly, what will happen in the market for fast-food hamburgers assuming nothing else happens in the market? A. Supply decreases, pushing prices lower. B. Supply increases, pushing prices lower. C.
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